Our Deals
PGR&B Corporate Finance Team assists Metinvest Holding with banks BNP Paribas and ABM Ambro in financing acquisition of Trametal steel group
A multi-million financing project completes Metinvest's acquisition of Trametal steel rolling facilities in Italy.
Within the ambit of the multi-million acquisition of the Trametal steel group - one of the most significant acquisitions in the steel industry carried out in Italy in recent years - the corporate team, coordinated by Founding Partner Gianfranco Puopolo, with junior partners Angela Rinaldi and Lucilla Margherita assisted Metinvest also with respect to the acquisition financing agreement coordinated by banks BNP Paribas and ABN Ambro.
Gianfranco Puopolo commented on the operation by saying "this operation was extremely complex and required a supreme commitment from the team for over six months. We will now be assisting Metinvest in a series of important projects in Italy and Abroad."...
PGRB&I advised Metinvest Holding LLC on the acquisition from the Malacalza Group of Italian Trametal and British Spartan UK rolled steel facilities.
The Corporate team at PGR&B, with partner Gianni Emilio Iacobelli, assisted the largest privately owned Ukrainian mining and metal business group, Metinvest Holding LLC in one of Italy's most significant acquisition deals of 2007. Metinvest plans to merge the new assets with its Italian Ferriera Valsider facility into one company.
The firm has assisted Ferriera Valsider on all legal matters for a number of years and PGRB&I's role as acquisition legal advisor is the result of the excellent relationship of esteem and trust that has been built up with Ferriera and the Metinvest group.
While the actual figure of the transaction closed on November 7, 2007 remains undisclosed, according to Founding Partner, Gianfranco Puopolo, "this transaction is one of the ten largest acquisitions carried out in Italy this year".
In addition to PGRB&I representing Metinvest, Lazard was retained as advisors for the buyers, while Bonelli Erede Pappalardo acted for the sellers with UBS as advisors.
The deal included due diligence on all the European subsidiaries of sellers, contract negotiations, tax advice and antitrust.
The full-time team at PGRB&I, made up of 10 lawyers, was lead by Gianfranco Puopolo, who was also the interface for clients and the foreign law firms involved in the transaction that included Beachcroft in the UK, Esche Schuemann & Commichau in Germany, Astrea in Belgium and Rehinart Marville Torre in France.
Junior Partners, Angela Rinaldi and Lucilla Margherita were involved on the corporate side, in due diligence and contractual negotiations, while name partner Gianni Emilio Iacobelli was part of the team at closing and aided final contract negotiations.
The antitrust aspects were handled in conjunction with Brussels-based antitrust law firm Howrey LLP.
The deal is now continuing into negotiations with the sellers for the development of a JV.
For further information, please contact Alison Kennedy – Marketing & Communications –
Tel: +39 (0)2 760 13359 -
email: a.kennedy@pgrblaw.com
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Partners Cristiano Bosin and Gianfranco Puopolo represent Monaco Yachting & Tecnologies ("MYT"), an independent builder of world class Mega Yachts in various complex proceedings against Italian shipbuilders and shipyards. These litigation proceedings concern the non performance of contractual obligations, breach of contract and damages’ claims exceeding several million euro...
PGRB&I has also assisted a major US insurer in the sale of its branch and subsequent liquidation of the Italian branch of a EU based company of the same group. Since Italian law does not specifically provide for this kind of operation, Angelika Lentsch and her team developed an ad hoc procedure together with insurance regulator ISVAP.
The firm has also acted in a criminal fraud case for the same insurer and a reinsurer in which the name of a UK- reinsurance company in Italy was misappropriated to underwrite reinsurance policies.
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Partner Robert Rosen and his team of 4 IT lawyers have developed one of the pre-eminent IT practice groups in Italy, advising clients on a wide range of legal issues associated with the implementation, use, licensing, and integration of IT solutions. Clients include airlines, airports, regulatory agencies, pharmaceutical companies, and government authorities, among others.
Robert Rosen and his team assists clients in the drafting and revision of contracts to ensure compliance with Italian and foreign laws, negotiating and documenting transactions on behalf of US and UK clients, drafting of outsourcing contracts, and assistance with compliance with Italian Legislative Decree 196/2003 (Data Protection), Legislative Decree 231/2001 (corporate fraud), IAS 24, Basel II, and Sarbanes-Oxley, including in-house training workshops. Robert Rosen has been involved in the renegotiations of contracts concerning the transfer of the personal data of passengers abroad to other airlines based in countries with less protective legislations. In conjunction with Tesi S.p.A., one of the group’s IT corporate clients, Robert assisted in the development of the business process management platform for corporate governance requirements and certifications. His groups also consult for a number of US-based Italian subsidiaries in interfacing with the home office and with planning, developing, and executing new business strategies in Europe.
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The Energy Team at PGRB, headed by Frank Geffers supervising a group of 4 associates, (Angela Rinaldi, Kai Hosse, Paola Duval and others) has assisted German and English clients (mostly Private Equity Funds and Banks) in the acquisition of wind parks in Italy. The work performed by Frank Geffers and his team included due diligence on energy and corporate matters of the companies holding the projects; advising on energy law and regulatory aspects; assistance on financing of the transaction.
During the last 12 months the PGRB Energy team has been increasingly involved in issues regarding other renewable energies (Solar energy, PV, Biomass and Biogas).
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PGRB''s Insurance team is assisting clients in challenging sanctions procedures applied by ISVAP, the Italian Insurance Regulator, including drafting defences and attending hearings. The team has been retained to represent clients at all levels and degrees of judgment .Please see the section "Practice Areas Insurance" for a detailed overview of the work that PGRB handles in this area....
Partner Frank Geffers and Angela Rinaldi represent a major German enterprise in a project concerning the establishment of a photovoltaic park in Southern Italy. Arrigo Montella is involved in all financial aspects of the transaction, including the filing of the application for state aid and grants for financing part of the construction of the energy plant....