Global law firm White & Case LLP has advised funds managed by Morgan Stanley Infrastructure Partners on a binding sale and purchase agreement with the shareholders of Finhold S.r.l., Salcef Group S.p.A.’s majority shareholder, aimed at an investment in Salcef Group.
Salcef Group is an Italian company listed on the Euronext STAR Milan market. It operates in the transportation industry, with a particular focus on the maintenance of railway infrastructure and urban mobility.
Following the closing of the transaction, the shareholders of Finhold will continue to hold a majority stake in Salcef and a mandatory public tender offer will be launched aimed at delisting the shares of Salcef Group from the Euronext STAR Milan market. Through the transaction, Finhold and Morgan Stanley Infrastructure Partners aim to accelerate Salcef Group’s growth strategy in Italy and internationally, leveraging Morgan Stanley Infrastructure Partners’ global relationships and expertise, particularly in the US market.
The closing is subject to antitrust and regulatory approvals in the relevant jurisdictions.
The White & Case team which advised on the transaction was led by partners George Kazakov (London), Leonardo Graffi (Milan & London) and Ferigo Foscari (Milan) and included partners Iacopo Canino (Milan), Martin Forbes, Michael Engel (both London) and Orion Berg (Paris), local partners Andrea Pretti and Alessandro Picchi (both Milan) and associates Edoardo Avato and Stefania Maracich (both Milan).
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