The Legal 500

Within Banking and finance, Linklaters LLP is a first tier firm,

Linklaters advised the lenders and arrangers on financing BC Partners’ leveraged buyout of Gruppo Coin, representing the largest public-to-private LBO in Italy since 2007. It also assisted Fiat in the financing of the new Fiat Industrial Group, created from the demerger of Fiat, the deal marking one of the largest syndicated loans in Italy in 2011. Practice head Davide Mencacci, Andrea Arosio and recently elected partner Francesco Faldi are recommended, as is counsel Tessa Lee, who has extensive experience in energy, oil and gas and infrastructure matters; Lee has ‘sound industry knowledge and a gentle approach, making her clients feel reassured’.

Within Debt, Linklaters LLP is a second tier firm,

In addition to its EMTN practice, Linklaters is active in the covered bonds market and is noted for groundbreaking securitisations. The team recently completed the annual renewal of a client’s €10bn covered bonds programme. Dario Longo is recommended. The practice recruited counsel Valentina Zadra from Cleary Gottlieb Steen & Hamilton LLP and managing associate Francesca Renzulli from Clifford Chance.

Within Equity, Linklaters LLP is a second tier firm,

Linklaters acted for the joint global co-ordinators and bookrunners on Intesa Sanpaolo’s €5bn rights offering, one of the largest rights issue ever carried out by an Italian bank. The team also advised the joint global co-ordinators on Salvatore Ferragamo’s IPO, the first IPO with a listing on the Mercato Telematico Azionari. Claudia Parzani and Teresa Triglia are recommended.

Within Corporate and M&A: Milan and Rome, Linklaters LLP is a second tier firm,

Linklaters has ‘a roll-up-your-sleeves approach’. The group advised AXA on its 30% investment in Perimetro Gestioni Proprietà Immobiliari. The practice also acted for Investindustrial on its co-investment with BC Partners to acquire Gruppo Coin from PAI, which was one of the largest private equity deals in 2011. Luca Picone ‘can manage complex transactions very effectively’, Francesco Stella is ‘a skilled negotiator and adviser’, and Giovanni Pedersoli is also recommended.

Within Energy, Linklaters LLP is a third tier firm,

Linklaters has strong relationships with private equity funds in Italy and assisted Terra Firma and RTR Group with the acquisition of Nuova Rete Solare, which was one of Italy’s largest solar energy transactions of 2011. Counsel Tessa Lee is recommended.

Within Restructuring and insolvency, Linklaters LLP is a third tier firm,

Linklaters advised the lenders on Lucchini’s debt restructuring. Practice head Francesco Faldi, Andrea Arosio and Davide Mencacci are recommended.