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Nectar project, a securitization programme that Phinance Partner launched in 2024, will acquire tax credits worth 300 million euros and issue notes that London’s Pollen Street Capital is going to acquire (see here a previous post by BeBeez). Pollen Street Capital retained Chiomenti while 130 Servicing will act as Corporate Servicer and noteholders representative. Enrico Cantarelli is the founder of Phinance Partner. Nectar project’s second step will acquire credits of 1.5 million.
L Catterton Europe will keep the stake in Italian fashion firm Etro that acquired in 202, Luigi Feola, managing partner Europe, said (see here a previous post by BeBeez). In 2023 the company generated sales of 262.4 million euros with an ebitra of minus 15.4 million and net debts of 46.3 million. French luxury giant LVMH has 40% of L Catterton.
The Italian antitrust authorised Duferco International Trading Holding (Dith), a Swiss Italian steel company, to acquire Marcora, an Italian compeitor of which it purchased a 20% in August 2021 (see here a previous post by BeBeez). Studio Castagnola Vismara Battaglia and Studio Grossi Salvi & Partners assisted the vendors. Studio CMS and Studio Van Bael & Bellis advised Dith. Marcora has a turnover of less than 84 million euros, an ebitda of -2.4 million, net losses of 3 milllion, and equity of 25.8 million.
Bankrupted Italian fashion firm Moreschi attracted a 1.73 million euros takeover offer from Glam, a trade buyer that Riccardo Libertino (15% owner) and Andrea Usuelli (15%) founded in 2012 (see here a previous post by BeBeez). UK investment vehicle Earl Crown Limited has 70% of Glam which has sales of 0.916 million, net cash of 0.28 million and equity of 0.565 million.
In 2024, Italian publisher and bookshop chain Feltrinelli posted sales of 530.8 million euros (+ 3.9% from 2023), an ebitda of 25.9 million (+3.2%) and ebit of 4.6 million (+119.05%) (see here a previous post by BeBeez). The company generated profits of 3.4 million (losses of 1.3 million).
