201706.16
0

Milan, June 16, 2017 - The Saviola Group, the largest Italian manufacturer of particle board panels and among the international top players in this field of activity, operating through the chemical, wood and “ready to assemble” furniture business units, has carried out an important operation consisting in the reorganization of the outstanding debt of medium-long term, aimed to redefine its own financial structure through the early achievement of the goals of economic and financial balance set out in the recovery business plan adopted in 2013 (with the forecast period 2018).

The excellent results of the Group led by Alessandro Saviola, through the structured process undertaken since 2013, have made it possible to achieve the recovery of the Saviola Group’s financial situation, which had been affected – from the standpoint of the economy – by the unfavorable performance of the reference markets from 2012 onwards.

The reorganization falls within the context of a wider financing transaction organized by Banca Popolare di Milano S.p.A., which has played a central role in its capacity as mandated lead arranger and Agent Bank. The funding, for an overall amount of Euro 131.000.000,00, was granted by a pool of banks, headed by BPM and made up of Banca Monte dei Paschi di Siena S.p.A., Banca Popolare di Sondrio S.c.p.A., Banca Popolare di Vicenza S.p.A., Crédit Agricole Cariparma S.p.A., Credito Valtellinese S.p.A., KBC Bank N.V., UniCredit S.p.A. and Unipol Banca S.p.A.
Fivesixty S.r.l., with Massimo Minolfi, acted as consultant of the shareholders. PricewaterhouseCoopers S.p.A. acted as financial consultant for the Saviola Group, with the partner Alessandro Azzolini and a team made up of Maria Antonella Lenza and Giovanni Oleggini.

Studio Legale Gattai, Minoli, Agostinelli & Partners, with partner Riccardo Agostinelli and the coordination of the senior associate Andrea Taurozzi, supported by associate Federico Tropeano, assisted the companies of the Saviola Group that were involved in the transaction. Studio Pavia e Ansaldo acted as legal consultant of the banking pool, with partner Marina Balzano and senior associate Giulio Asquini. The Belgian bank KBC Bank N.V. was assisted by Matteo Bragantini, partner at Studio Gianni, Origoni, Grippo, Cappelli & Partners.

The aspects of the transaction regarding Belgian law were followed, respectively, by Studio NautaDuthil, for the Saviola Group, and by Studio Altius, for the banks.