Linklaters advised the underwriters and lending banks on the successful completion of a €150 million rights issue and a related €525 million financing for doValue
Linklaters advised the underwriters and lending banks on the successful completion of a €150 million rights issue and a related €525 million financing for doValue, a leading European financial services provider listed on Euronext STAR Milan. This was conducted in connection with doValue's acquisition of Gardant, an Italian company specializing in credit management and partial refinancing of doValue’s existing indebtedness.
As communicated by doValue, the transaction is aimed at creating a leading European credit management company, whose central role to support the financial system and the economy is strengthened through the creation of the leading credit management company in Italy, with products ranging from sub-performing to non-performing loans, state-of-the-art IT platform, fund management, diversified business lines across the full spectrum of credit management, and long-term contracts with the largest European banking groups.
Linklaters advised on the structuring and execution of both the rights issue and financing, operating across the full spectrum of financing options for the acquisition and the refinancing. This represents one of the most significant and complex transactions in the Italian Financial Institutions Group (FIG) sector this year.
A multidisciplinary Linklaters team was involved in the transaction. Partners Ugo Orsini and Diego Esposito, along with counsels Cheri De Luca, Francesco Eugenio Pasello, and Marco Carrieri, led the transaction from the Milan office. They were supported by managing associate Matteo Pozzi, trainees Alessia Intonti and Thomas Alves Pereira for corporate and equity capital markets aspects, and associate Sara Giugiario with trainee Riccardo Sirchia for financing aspects. Partner Giacomo Reali and counsel James Simpson from the London office managed issues related to the high-yield debt. Partner Lucio D’Amario and managing associate Giorgio Valoti handled antitrust and golden power issues. Counsel Fabio Balza, with managing associate Eugenia Severino and associate Matteo Feliziani, addressed tax aspects. Regulatory aspects were overseen by managing associates Samuele Manfredo Pio and Giulio Farolfi, supported by trainee Mario Alessio Albano.
