The Legal 500

Bonelli Erede Pappalardo’s ‘partners are extremely commercial when approaching negotiations’. Clients also praise the firm’s ‘superb depth’. Recent work includes high-value acquisitions of companies owning wind farms; corporate restructurings; and fund acquisitions. Sergio Erede is ‘a star practitioner’.

Led by Francesco Tedeschini, Chiomenti Studio Legale’s highlight deals included assisting Falck, Actelios and Renewables with the acquisition of Falck Renewables. Telco was advised in connection with Sintonia’s acquisition of Telecom Italia shares and subsequent buyback, and Gallerie Commerciali Italia was represented in the sale of Galleria Commerciale Porta di Roma. Michele Carpinelli is a leading individual.

‘Particularly attractive for large, complex transactions involving multiple jurisdictions’, Cleary Gottlieb Steen & Hamilton LLP was counsel to A2A in the sale of electricity transmission assets to the Terna group, and acted for Malacalza Investimenti in its industrial partnership with Gruppo Partecipazioni Industriali and its controlling shareholder Marco Tronchetti Provera. The practice also advised Weather Investments (controlled by Sawiris) in connection with the $21bn Sawiris/VimpelCom merger. Roberto Casati remains ‘a great rainmaker’. Giuseppe Scassellati-Sforzolini is also recommended.

d’Urso Gatti e Bianchi Studio Legale Associato’s Carlo d’Urso recently assisted Unifind with the purchase of the share capital of listed company Gewiss through a voluntary public offering, and Stefano Valerio represented Dia Sorin in the purchase of assets of the Murex product line from Abbott Laboratories. The practice also acted for Immobiliare Lombarda in the demerger and assignment of two of the Group Fondaria-SAI’s real estate companies. Francesco Gatti is widely respected.

Gianni, Origoni, Grippo & Partners was involved in several large transactions as well as numerous mid-market deals, generated by several restructurings. Key matters included representing Amcor in the acquisition of divisions of the Alcan Packaging businesses for $1.95bn and acting for VimpelCom on its $21bn merger with Sawiris. In private equity, the practice advised Kohlberg Kravis Roberts in connection with the acquisition of a 49.9% stake in Grupo Inaer, Europe’s largest provider of mission-critical onshore helicopter services. Senior partner Francesco Gianni ‘is still the best’. Industrial M&A head Alessandro Giuliani is also recommended.

In line with a substantial increase in the demand for M&A services from clients in the energy sector, Lorenzo Parola and his team of attorneys joined Dewey & LeBoeuf Studio Legale from Allen & Overy – Studio Legale Associato in 2009. The team represented Bain Capital on the sale of TeamSystem to HG Capital and advised Hera Group, one of the largest Italian municipal utilities, on the sale of a stake in Herambiente. Italy managing partner Bruno Gattai, Rome managing partner Stefano Speroni and Luca Minoli are ‘fantastic lawyers and extremely easy to work with’. SJ Berwin LLP’s former Italy managing partner, Alberto Morano, joined as of counsel.

Grimaldi e Associati acted for Citibank in the sale of its Italian credit card business and acted for Erg in connection with its joint venture with Total. Roberto Cappelli is an extremely well regarded practitioner.

Labruna Mazziotti Segni advised Pirelli and Pirelli Real Estate in relation to the separation of the two groups and was engaged by the banks sponsoring Fiat’s spinoff of its trucks and industrial vehicles into Fiat Industrial. Fabio Labruna and Andrea Mazziotti di Celso are recommended.

Latham & Watkins LLP’ lawyers are experienced with both inbound and outbound Italian M&A. The team represented Eurofly in its business combination with Meridiana to create Meridiana Fly. Tommaso Amirante, Antonio Coletti and Fabio Coppola are principal contacts. Stefano Sciolla joined from Cleary Gottlieb Steen & Hamilton LLP as corporate partner.

Legance Studio Legale Associato is ‘knowledegable in its practice areas’. The practice acted for Generali Properties in the acquisition of a part of Lamaro Appalti’s interest in Citylife and represented Total Raffinage Marketing in its €1.52bn oil refinery and marketing business joint venture, involving 3,500 service stations and two refineries. Filippo Troisi is ‘shrewd, creative and appropriately aggressive’.

Linklaters has been especially focused on acquisitions. The team advised private equity group HG Capital as buyer of TeamSystem for €565m. Giovanni Pedersoli is ‘valued for his knowledge of the banking sector and understanding of business drivers’, Luca Picone is also recommended and Francesco Stella is ‘always available to discuss issues’.

NCTM Studio Legale Associato provides ‘timely and precise answers, and offers a reasonable understanding of the business aspects of each request’. The practice recently welcomed Annalisa Rossi from DLA Piper and Piero Corigliano from Ughi e Nunziante, but founding partner Gianfranco Negri-Clementi left the practice. M&A head Alberto Toffoletto, co-managing partner Vittorio Noseda, senior partner Paolo Montironi, and corporate head Sante Ricci are key contacts. FIAT and Ferrari are clients.

Pavesi Gitti Verzoni recently advised the Banco Popolare Group on the sale of Cassa di Risparmio di Pescara. Name partner Carlo Pavesi is recommended.

Pedersoli e Associati’s powerhouse banking-sector M&A practice ‘has the ability to capture the specific business needs of a client in a cost-effective way’. The firm also houses a dedicated private equity group and leading corporate restructuring team. Longstanding client Intesa Sanpaolo was advised on the sale of the entire stake held by its subsidiary Banca CR Firenze in Cassa di Risparmio della Spezia, and AVM Private Equity was assisted with the acquisition of an 80% stake in Barovier & Toso, a historical Murano glass manufacturer. Ascanio Cibrario ‘has an acute talent for spotting issues and always comes up with innovative solutions’. Carlo Pedersoli is ‘deeply experienced’ and Piero Albertario is ‘outstanding’.

Allen & Overy – Studio Legale Associato’s Paolo Ghiglione recently made partner. Key matters included acting for one of the biggest international private equity funds on its participation in the €1bn sale process of Tirrenia, the Italian state-owned owner of ferries and cruise ships, and advising a pool of lenders on the acquisition, via debt restructuring, of the Global Garden Products group of companies. More recently, Ghiglione led the advice to BAA Airports, a subsidiary of Grupo Ferrovial, on the high-profile €150m sale of its 65% stake in GESAC – which holds the concession to operate Naples International Airport – to an Italian infrastructure fund. The transaction included the sale of a 54% stake in Software Design, an Italian company specialising in software development for airport usage. Giovanni Gazzaniga is ‘an exceptional lawyer’. Roberto Donnini advises on private and public M&A transactions, and has assisted leading industrial and financial institutions, as well as private equity houses, operating in the Italian market. Energy expert Lorenzo Parola left for Dewey & LeBoeuf Studio Legale.

Carnelutti Studio Legale Associato’s Luca Arnaboldi leads the corporate group. Dytech Dynamic Fluid Technologies was assisted by Alberto Rittatore Vonwiller with the sale of its Spanish subsidiary Dytech Ensa to BorgWarner. The team also advised Banca Carige on the acquisition of 22 branches from the Banca Monte dei Paschi di Siena. Nicolò Bastianini is also a key lawyer. Rittatore Vonwiller ‘understands US corporate culture’.

Clifford Chance’s recent strategic M&A roles included advising on both the acquisitions of Findus and TeamSystem, the first two large LBO transactions in the Italian market after the credit crunch. EDF was assisted with its landmark joint venture agreement with Enel to develop nuclear power in Italy including four nuclear power plants. Alberta Figari is ‘a strong lawyer’ and Paolo Rulli is ‘effective’. Paolo Sersa also merits mention.

Antonio Lombardo, Ernesto Apuzzo and Francesco Aleandri recently joined DLA Piper from Simmons & Simmons together with several associates. The practice assisted Générale de Santé in the restructuring of its diagnostics business in Italy. Wolf Michael Kühne is recommended.

Notwithstanding market conditions, the ‘responsive and commercially minded’ team at Freshfields Bruckhaus Deringer retained a prominent presence in the market, with a good mix of domestic and international clients. The team advised State Street Corporation in relation to the €1.75bn acquisition of Intesa Sanpaolo Servizi Transazionali. Iride Acque e Gas was assisted with the reorganisation of its water services business in the north of Italy. New corporate head Nicola Asti replaced Mario Ortu, now in a worldwide leadership role.

Private equity-focused practice Giliberti Pappalettera Triscornia e Associati acted for Compass on the acquisition of Ducati Financial Services. Enrico Giliberti, Carlo Pappalettera and Alessandro Triscornia are the principal contacts.

Clients praise Hogan Lovells Studio Legale’s ‘immediate responses, full availability, strong work ethics and the ability to address unexpected issues. No matter the amount of pressure or the aggressiveness of counterparts, its reaction is always instant, concrete and professional’. The renewable energy market continued to be an excellent source of work for the practice, as well as the fashion and luxury goods sectors, and its M&A position strengthened within the financial services, IT and pharmaceutical industries. Recent highlights include acting for Barclays on the acquisition of Citibank’s Italian credit card business. Esso Italiana was assisted on the sale to Autogrill of the business unit relating to the operation and management of 80 service stations in Italy. Leah Dunlop leads the team, Italian insurance head Paolo Ricci is ‘great at finding solutions, even when an impasse appears to have been reached’, and Gianroberto de Giovanni has ‘deep knowledge of market mechanisms’. Antonio Di Pasquale is also a key figure.

Lombardi Molinari e Associati offers ‘the legal knowledge and ability to solve problems, accompanied by accuracy, diligence and timely responses’. The practice assisted Turismo & Immobiliare in the sale of the 49% stake held in Italia Turismo. Ugo Molinari is a key contact.

Norton Rose Studio Legale has been increasingly active in cross-border M&A and private equity deals. Aspria Group was assisted with the acquisition of Harbour Club Sporting and Spa in Milan and Xenon Private Equity V was advised on the acquisition of Telerobot OCEM, a Genoa-based company that produces highly specialised machinery for the automotive sector. Paolo Daviddi, Nicolò Juvara and Davide Proverbio are all recommended.

Led by Alessandro De Nicola, Orrick, Herrington & Sutcliffe’s corporate team multiplied with the arrival of five new partners from Vita Samory Fabbrini, including Guido Testa and Luca Fabbrini, and two partners from Tonucci & Partners in alliance with Mayer Brown LLP, including the latter’s founding partner Marco Nicolini. The practice assisted GE Capital in the sale of the entire interest owned in Almeco Holding. De Nicola is ‘particularly adept at compliance and corporate governance matters’.

Studio Professionale Associato a Baker & McKenzie represented Amplifon in the €325m acquisition of NHC Group, being the most significant acquisition in Amplifon’s history. Alberto Semeria and Raffaele Giarda are key contacts.

At CBA Studio Legale e Tributario, Alessandro Varrenti has a longstanding reputation for corporate, M&A and private equity matters.

CMS Adonnino Ascoli & Cavasola Scamoni recently worked on major deals in the energy sector, but also has clients in the pharmaceutical, media, defence and electrical devices sectors. Synlab was assisted with the acquisition of two Italian lab service providers. Pietro Cavasola is the main contact.

De Berti Jacchia Franchini Forlani is ‘large enough to cover a range of practices, but remaining a medium-sized firm allows direct interaction with clients’, such clients tending to derive from the automobile, fashion, transport, automated ticketing, white goods manufacturing, medical, oil and gas and technology sectors. SAAB was assisted in acquiring the SAAB vehicle distribution business from General Motors Italia. Cristina Fussi is ‘precise, responsive and competent’.

Jones Day advised Bridgestone Corporation on the sale of its Italian and Chinese steel cord manufacturing subsidiaries. Bruno Castellini and Stefano Crosio are recommended.

MBL & Partners changed its name to Marena Castorino D’Angelo & Fagotto after former senior partner Daniele Bonvicini, managing partner Roberto Ludergnani and partners Giuseppe Forni, Federico Lolli and Alessandro Borelli left to found Milan and Bologna-based BLF Studio Legale. The remaining practice advises on LBOs, public bids, trade purchases, corporate governance and joint ventures, the client base comprising leading corporate and financial institutions, as well as private equity firms. Elio Marena is an M&A specialist. Francesco Marena is ‘extremely competent’.

Praised for its ‘tailor-made solutions’, McDermott Will & Emery Studio Legale Associato recently advised renewable energy companies in acquisitions and sales of PV projects, and expanded its presence in the restructuring sector. Massimo Trentino is ‘an outstanding lawyer’. German and Italian-qualified Carsten Steinhauer and Filippo Mazza are also noteworthy practitioners.

Paul, Hastings, Janofsky & Walker (Europe) LLP has established strong relationships with Telecom Italia, Fiat, Exor and CIR. Thomson Reuters and IBM are new clients. The practice recently advised Babcock & Brown in the sale of several B&B Group companies. Bruno Cova ‘achieves results’. Antonio Azzarà and Alessandro Stoppa are also recommended.

With offices in Milan and Rome, Pavia e Ansaldo is frequently involved in complex Italian transactions on the international market. The team assisted IRIS Isontina Reti Integrate e Servizi in the sale of natural gas and electricity business activities. Branch offices are run from Moscow, St Petersburg, Tokyo and Brussels.

Pirola Pennuto Zei & Associati acted for Astrium on the acquisition of Aviospace. Aviva Group is a regular client. Maurizio Bernardi is recommended.

Simmons & Simmons’ corporate practice includes a strong private equity practice that offers specialised expertise in both funds formation and investment. Alliance Medical was advised on the acquisition of Istituto Fisioterapico Europa and Emolab’s entire corporate capital. Andrea Accornero and Marco Franzini are recommended.

Recommended by clients for its ‘professionalism’, Tonucci & Partners in alliance with Mayer Brown LLP regularly counsels Sony Italia. Mario Tonucci and ‘tough negotiator’ Mauro Baldissoni are known for assisting Italian and foreign companies in M&A and private equity investments in Italy and Albania. Umberto Baldi ‘is particularly helpful on cross-border matters’.

Ashurst welcomed Ilario Giangrossi from Pedersoli e Associati. AXA Private Equity was assisted in the €1bn acquisition of ENEL’s gas distribution network.

Appreciated for its ‘high levels of teamwork’, Bird & Bird LLP strengthened its Rome offering with the arrival of Arturo Meglio from SJ Berwin LLP. The practice advised Gruppo MultiMedica on the acquisition of Ospedale San Giuseppe in Milan. Alberto Salvadè is ‘a brilliant lawyer who can think laterally’.

Studio Legale Carbonetti’s Francesco Carbonetti is recommended by peers and clients for his M&A experience within the banking sector.

Curtis, Mallet-Prevost, Colt & Mosle LLP acted for Italian pharmaceutical group Fidia Farmaceutici on its sale of a biotech subsidiary called Fidia Advanced Biopolymers. The practice also enjoyed intense activity in the renewable energy sector. Ex-Clifford Chance corporate law practitioner Ian Tully ‘impresses with his problem-solving approach and his ability to explain complex Italian legal matters in a clear manner to international clients’.

Rome-based Studio Legale Delfino e Associati, Willkie Farr & Gallagher LLP has longstanding experience of advising on sales of private companies to financial and strategic buyers. Maurizio Delfino is the key contact.

The ‘responsive’ Macchi di Cellere Gangemi advised EDP Renováveis on the acquisition of a majority stake in Italian Wind, a company operating wind projects in Italy. Luigi Macchi di Cellere ‘provides great advice’.

PGI -Puopolo Geffers Iacobelli & Partners was recently mostly focused on the energy and insurance sectors. Highlights included assisting Skytanking in the acquisition of two aircraft fuelling service companies. Gianfranco Puopolo’s ‘calm, high-level management style’ impresses clients. Angela Rinaldi is ‘extremely thorough and knowledgeable’.

Piergrossi Bianchini Eversheds has remained busy in mid-market deals, often within the renewable energy, telecommunications and pharmaceuticals sectors. Riccardo Bianchini Riccardi is recommended.

Best known for its media sector expertise, the ‘dynamic and personally involved’ Portolano Colella Cavallo Studio Legale recently launched a presence in Milan, with five full-time attorneys, and is expanding its mid-market practice. A pan-European private equity fund was assisted in acquiring a Milan-based retail chain. Manuela Cavallo is the key contact.

At 35-partner R&P Legal – Rossotto, Colombatto & Partners, the M&A group advised Valbart’s top management and 21 Investimenti in the sale to US multinational Flowserve of Valbart. Additionally, the team acted for Euticals and the private equity fund Mandarin Capital Partners on the acquisition of Poli, which is active in the chemical and pharmaceutical sectors.

SLA Osborne Clarke (Member of the Osborne Clarke Alliance) provides ‘quick reactions and full-time availability’. The practice assisted Cattolica Assicurazioni in the acquisition of the Macquarie Office Italy fund. Known for his work with pharmaceutical companies, Riccardo Roversi is ‘very effective and proactive in negotiations’. Private equity specialist Umberto Piattelli ‘understands our business objectives’.

Studio Santa Maria’s corporate and M&A team has a ‘deep understanding of US-related transactions’. Bracco Advance Medical Technologies was assisted in the acquisition of Heart Leaflet Technologies. Luigi Santa Maria ‘shows exceptional motivation’.

Shearman & Sterling LLP advised Italian listed company Realty Vailog in connection with its proposed business combination with Industria e Innovazione. Partner Michael Bosco and Italy corporate head Domenico Fanuele are key figures.