The Legal 500

Bonelli Erede Pappalardo’s Alberto Saravalle recently acted on a number of employee offerings. The team also acted for Telecom Italia Media in a rights issue. Carlo Montagna is recommended.

Offering a ‘high level of service’, Chiomenti Studio Legale is particularly active in listings, public offers, and private placements to institutional investors and employees, as well as capital increases. Highlights included advising Enel Green Power as issuer, and Enel as selling shareholder, in the €4bn public offering and listing of Enel Green Power’s shares. The practice also assisted Tesmec, as issuer, in the public offering and listing of Tesmec’s shares on the Mercato Telematico Azionario and concurrent private placement to institutional investors. Enrico Giordano and Manfredi Vianini Tolomei are key contacts.

Cleary Gottlieb Steen & Hamilton LLP ‘is extremely good both at understanding what you need and at getting it for you’. The team stands out for its large team of bilingual US and Italian lawyers resident in Italy, and recently acted as Italian and international counsel to Jefferies International and Banca IMI in a rights offering by MolMed. It also represented Yoox in its IPO. Giuseppe Scassellati-Sforzolini, Francisco Cestero and Pietro Fioruzzi are recommended. Michael Volkovitsch moved to the New York office.

Labruna Mazziotti Segni acted as legal counsel to Banca IMI and UniCredit in connection with the €12bn listing on the Italian Stock Exchange of Fiat Industrial’s shares, the company that demerged from Fiat, and advised Cam Finanziaria on a €100m rights issue. Antonio Segni is ‘fantastic’.

Clifford Chance acted for Mediobanca and Goldman Sachs International on the IPO and listing of Yoox, marking the only main Italian market IPO of 2009. Snam Rete Gas was represented in connection with its €3.5bn rights issue. Filippo Emanuele and Alberta Figari are recommended.

Linklaters acted for Mediobanca on the largest capital increase by way of rights issue in Italy in 2010, as well Unicredit’s €4bn rights issue. Team head Luigi Sensi and Claudia Parzani are recommended, as is ‘strong partner’ Dario Longo.

Shearman & Sterling LLP’s Italian managing partner Domenico Fanuele and Michael Bosco are widely praised. The team represented MolMed in connection with its €58m capital increase and rights offering, consisting of a public offering in Italy and an international private placement outside of Italy to institutional investors. The practice also acted as US counsel to a consortium of 27 banks led by Banca IMI, Credit Suisse, Goldman Sachs International and Mediobanca in connection with the initial offering by Enel, and concurrent listing of the ordinary shares of Enel Green Power.

Dewey & LeBoeuf Studio Legale represented TBS Group in its listing on the Italian Stock Exchange and its related offering to institutional investors. Adriano Pala is a key practitioner.

d’Urso Gatti e Bianchi Studio Legale Associato’s name partner Carlo d’Urso remains a strong name for equity transactions. Mediobanca is a longstanding client.

Gianni, Origoni, Grippo & Partners’s Andrea Marani advises on IPOs, secondary offerings, and the placement of real estate and private equity funds. Highlights included acting on the subscription of units in Porta Nuova Varesine – Fondo Comune di Investimento Immobiliare, reserved to professional investors and managed by Hines Italia. Fabio Ilacqua is a key contact.

Latham & Watkins LLP’ experience runs the gamut of capital market transactions registered with the SEC or through Rule 144A and Regulation S, or else as private placements, including initial public offerings and secondary equity offerings. The team also advises in convertible and exchangeable debt, high-yield bonds, Eurobonds and investment grade bonds and US private placements notes. Eurofly was advised on the issuance of a rights offering. Antonio Coletti is ‘an outstanding capital markets professional’,

‘Tailored to clients’ needs,’ Legance Studio Legale Associato acts on IPOs, share capital increases, equity secondary offerings, convertible bonds issues, public tender offers, and securities that are convertible into equity and equity-linked products. Unicredit is a client. Bruno Bartocci is ‘a great coordinator of teams’.

Norton Rose Studio Legale is noted for its industry know-how in relation to financial institutions, energy, infrastructure, transport and technology. The team advised Terni Energia, as issuer, and BNP Paribas, as global coordinator and bookrunner, in a new share issue. Paolo Daviddi is the key contact.

Allen & Overy – Studio Legale Associato’s Max Aaron and Paola Leocani have significant capital markets experience. Leocani ‘highlights the risks and rewards, letting you make the most educated choice’. The team acted for Delta Lloyd Group in the largest European IPO of 2009.

Carnelutti Studio Legale Associato’s ex-Lovells Studio Legale’s capital markets specialist Marco Lantelme is a key contact. Lantelme has strong experience in IPOs.

DLA Piper’s Francesco Maria Aleandri recently arrived from Simmons & Simmons to lead the ECM team. The practice was recently focused on the placement of investment funds and advised on innovative structures such as SPACS. Luigi Rizzi heads the department.

Hogan Lovells Studio Legale’s ECM team recently advised GEM Investment Advisors in the terms of subscription and share lending agreements related to an equity line of credit provided to Fremil International. The practice also advised Tecnologia Avanzata dei Sitemi Spa in relation to its rights issue and listing of shares on the Italian Stock Exchange. Practice head Roberto Culicchi is recommended.

NCTM Studio Legale Associato’s Giuseppe Labianca is recommended for public offerings and private placements. The practice acted on an AIM Italia listing.

Pedersoli e Associati was boosted by the arrival of Turin and Milan-based equity partners Andrea Gandini and Marcello Magro from Grande Stevens: Studio Legale Associazione Professionale. The practice advised Gruppo Ceramiche Ricchetti in a capital increase and represented issuer, Società Editoriale Vita, on its IPO on the AIM Italia market. Gandini offers ‘excellent support when negotiating complex deals’.

Clifford Chance spinoff Studio Legale Riolo Calderaro Crisostomo e Associati has notched up an impressive range of public equity-linked transactions. The team advised Banca Popolare di Milano on a recapitalisation plan and acted for Mediobanca as arranger on the €350m capital increase of Lottomatica.