Two US Firms Lead On Italian Take-Private Worth Nearly €3B
The firms are advising BC Partners as it teams up with an Italian family firm to acquire a national machinery business.
July 29, 2020 at 06:55 AM
2 minute read
The deal will value IMA at €2.93 billion, the company said in a statement.
White & Case and Kirkland & Ellis have snapped up roles to advise investment firm BC Partners on its take-private of an Italian machinery business.
BC Partners and Italian family firm SOFIMA Società Finanziaria Macchine Automatiche are teaming up to acquire Bologna-headquartered business IMA in a transaction that will value the company at €2.93 billion, IMA said in a statement.
White & Case London and Milan corporate partner Michael Immordino led the firm's team to advise BC Partners, alongside Milan-based M&A partner Leonardo Graffi; London finance partners and Milan-based partner Iacopo Canino; Milan securities and corporate partner Ferigo Foscari and local partner Alessandro Seganfreddo; and antitrust partner Alex Schulz, who is based between the firm's Brussels and Duesseldorf offices, as well as Brussels local partner Alexandra Rogers.
Kirkland is also advising BC Partners on the transaction with a team led by London corporate partners David Higgins and Tom Bartam. Italian law firm NCTM Studio Legale is advising SOFIMA on the deal.
The deal is one of the largest in Europe of 2020 so far, with European lawyers remaining busy across the continent despite financial uncertainties caused by the coronavirus crisis.
Earlier in July, top firms including Weil Gotshal & Manges, Latham & Watkins, Allen & Overy and French outfit Villey Girard Grolleauare took roles on a €4 billion French home-furnishings merger that would be a rival to Ikea.
In another ongoing French deal, Skadden Arps Slate Meagher & Flom and Kirkland are advising on two planned acquisitions of French businesses by U.S. private equity fund Silver Lake.
Read More
Skadden Takes Two French Mandates For Silver Lake
Latham and Freshfields Jump to Top of Global M&A Adviser Rankings as Global Deal Activity Plummets
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