Chiomenti and Grimaldi secure lead roles on headline Alitalia stake sale
A raft of Italian firms have bagged roles on the high-profile privatisation of flagship Italian Government airline Alitalia. Leading Italian independent Chiomenti has won the prestigious role of advising the Italian Treasury on the sale of its stake in the national company, while Grimaldi & Associati is advising longstanding client Alitalia.
March 28, 2007 at 11:08 PM
2 minute read
A raft of Italian firms have bagged roles on the high-profile privatisation of flagship Italian Government airline Alitalia.
Leading Italian independent Chiomenti has won the prestigious role of advising the Italian Treasury on the sale of its stake in the national company, while Grimaldi & Associati is advising longstanding client Alitalia.
The Italian Treasury is to sell at least two-thirds of its 49% share in the airline.
In 2005 Grimaldi partner Valerio Di Gravio led a team advising the airline on its E1bn (£677m) share issue.
Bidders are required to put forward their preliminary offers by next month (16 April).
The managing partner of Slaughter and May ally Bonelli Erede Pappalardo, Umberto Nicodano, and the name partner of aviation boutique Cannata Pierallini, Laura Pierallini, are advising one of the bidders, Italian private equity house Management & Capitali.
Clifford Chance finance partners Michele Crisostomo and Alberta Figari are advising Air One – which since 2000 has had a commercial collaboration with Lufthansa – on its bid.
Other bidders are thought to include US buy-out giant Texas Pacific Group.
According to the tender document published on the Italian Treasury website, the eventual buyer must guarantee the airline's 18,000 jobs, domestic routes and the Italian identity of the Alitalia brand.
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