Italy > Legal market overview
Italy’s legal advisers saw few big-ticket M&A deals in 2011 as the transactional landscape was dominated by restructuring mandates. Private equity activity picked up notably in the first half of 2011, including secondary transactions involving the passage of investments from one fund to another, such as PAI Partners’ exit from its investment in Gruppo Coin, although this work slowed substantially after the summer. Renewable energy was another bright spot, although after the reduction of feed-in tariffs for new renewable energy plants, the solar energy sector slowed.
Among developments at law firms, NCTM Studio Legale Associato endured the departure of litigation partner Paolo Pototschnig and a small team to Legance Studio Legale Associato, and Pedersoli e Associati opened up in Turin after recruiting several equity partners from Grande Stevens: Studio Legale Associazione Professionale.
In Milan, Pedersoli e Associati added Marena D’Angelo & Fagotto’s lawyers to its ranks following a merger, and DLA Piper merged with former IP boutique Dragotti Studio Legale Associato, bringing Gualtiero Dragotti and a small team to its Milan office.
Other significant news for the Italian legal market was White & Case LLP’s return, following its exit in late 2008; Michael Immordino was joined by Nicolas Lasanga from Latham & Watkins LLP and Ferigo Foscari from Chiomenti Studio Legale. Gianni, Origoni, Grippo & Partners recruited M&A expert Roberto Cappelli and a ten-lawyer team from Grimaldi e Associati in December 2011, prompting Cappelli’s new firm to amend its name to Gianni, Origoni, Grippo, Cappelli & Partners and leading to Grimaldi e Associati’s dissolution.