White & Case (Europe) LLP > Milan, Italy > Firm Profile

White & Case (Europe) LLP
PIAZZA DIAZ 2
20123 MILAN
Italy

Italy > Banking and finance: Borrower side Tier 1

White & Case (Europe) LLP‘s wide-ranging expertise covers leveraged finance, syndicated and real estate loans, asset and export finance, private debt, and mezzanine and hybrid debt. Giuseppe Barra Caracciolo is a banking and finance expert, Iacopo Canino is a leveraged finance specialist and Gianluca Fanti focuses on distressed asset disposals and acquisitions. Also highly regarded, Andrea Novarese has a broad finance practice, while local partner Francesco Scebba advises on financing and special situations. Bianca Caruso and Tiziana Germinario are recently-promoted local partners, and Stefano Bellani is an experienced senior associate.

Practice head(s):

Giuseppe Barra Caracciolo; Iacopo Canino; Bianca Caruso; Gianluca Fanti; Tiziana Germinario; Andrea Novarese; Francesco Scebba

Other key lawyers:

Testimonials

‘A very good team.’

‘Good knowledge of Italian practices – proactive during negotiations, and good at identifying the main points of discussion while proposing solutions. The team is also very well connected.’

Key clients

Bank of America Merrill Lynch

Banco de Sabadell

Banco Santander

BNP Paribas

Cassa Depositi e Prestiti

Citibank

Deutsche Bank

Goldman Sachs

Intesa Sanpaolo

Banca IMI

JP Morgan

Mediobanca

Morgan Stanley

Natixis

Rabobank

UniCredit

Banca IFIS

Banca Nazionale del Lavoro

Banco BPM

Banco di Sardegna

BPER Banca

Cassa Risparmio di Asti

Cassa di Risparmio di Bolzano

Credito Fondiario

Crédit Agricole Italia

Illimity Bank

Acciaieria Arvedi

Adler Pelzer

Alha Holding

Ali Group

Amplifon

Antares Vision

ASTM

Atlantia

Autogrill

Autostrade per l’Italia

Balmain

Barilla

Burgo Group

Caprari Group

Casa Vinicola Zonin

Cedacri

CPL Concordia

Data4

Datalogic

Edizione

Edizione Real Estate

Enel

Esselunga

Fingen

Fratelli Beretta

Gemmo

GVS

Hippocrates Holding

Impresa Medica (Villa Benedetta Group)

Infrastrutture Wireless Italiane

Isoclima

Italiaonline

Irgenre Group

Kedrion

Libero Acquisition

Milanosesto

Modes

Mondodelvino

OMA

Open Fiber

Piaggio & C

Pinarello

Piovan

Proma Group

Recordati

Salini

Scalve

SIA

Sirti

TeamSystem

Tecnica Group

Valentino

Apollo Global Management

BlackRock

Blackstone CreditBrookfield

Carval Investors

GIC

Magnetar

Muzinich & Co

Oak Hill Advisors

Oaktree Capital Management

Pemberton Asset Management

Springrowth

Starwood Capital

The Carlyle Group

Tikehau Capital

VER Capital

York Capital Management

21 Investimenti

Antin Infrastructure Partners

BC Partners

Clessidra

Cobepa

CVC Capital Partners

Centerbridge

Trilantic

Peak Rock Capital Partners

Peninsula Capital

Platinum Equity

Progressio SGR

Triton

VER Capital

VGO Capital Partners

White Bridge Investments

21 Investimenti

Work highlights

  • Advised Open Fiber on its €7bn financing.
  • Advised Ali Group on a financing including a €1bn-plus term loan facility, a $2.25bn term loan facility, a $250m revolving credit facility, and a $750m bridge facility.
  • Advised Apeiron Management, and funds managed by affiliates of Apollo Global Management, on a transaction with Illimity Bank, comprising the sale and subsequent refinancing of a portfolio of construction claims.

Italy > Banking and finance: lender or arranger side Tier 1

White & Case (Europe) LLP‘s Milan lawyers combine enviable banking and finance, structured finance and financial restructuring expertise. Giuseppe Barra Caracciolo‘s practice covers general lending, debt restructuring, and real estate and leveraged finance, while Iacopo Canino assists with banking and private debt financings. Gianluca Fanti focuses on distressed asset disposals and acquisitions, along with special situations, meanwhile Andrea Novarese is a renowned banking and finance specialist. Further key partners include Francesco Scebba, and the recently promoted Bianca Caruso and Tiziana Germinario. Stefano Bellani is an experienced senior associate.

Practice head(s):

Giuseppe Barra Caracciolo; Iacopo Canino; Bianca Caruso; Gianluca Fanti; Tiziana Germinario; Andrea Novarese; Francesco Scebba

Other key lawyers:

Testimonials

‘Very prepared and experienced team with professionalism at the highest level.’

‘Associates and junior staff who are really able to provide solutions and assistance.’

‘Great quality from the team and solid preparation in the drafting – the team finds solutions in difficult situations.’

Key clients

Bank of America Merrill Lynch

Banco de Sabadell

Banco Santander

BNP Paribas

Cassa Depositi e Prestiti

Citibank

Deutsche Bank

Goldman Sachs

Intesa Sanpaolo

Banca IMI

JP Morgan

Mediobanca

Morgan Stanley

Natixis

Rabobank

UniCredit

Banca IFIS

Banca Nazionale del Lavoro

Banco BPM

Banco di Sardegna

BPER Banca

Cassa Risparmio di Asti

Cassa di Risparmio di Bolzano

Credito Fondiario

Crédit Agricole Italia

Illimity Bank

Work highlights

  • Advised Banco BPM, Intesa Sanpaolo, Ver Capital SGR and Muzinich & Co SGR on the €37.9m refinancing of the existing financial indebtedness of Pinarello and the granting of a term loan guaranteed by SACE.
  • Advised Rabobank on a €45m revolving credit facility granted to Salumificio Fratelli Beretta and two companies of the group CIM and Framon.
  • Advised a pool of banks (including Unicredit) on a €200m credit facility granted to Industrie De Nora and a $100m credit facility granted to De Nora Holdings US.

Italy > Capital markets: Debt Tier 1

White & Case (Europe) LLP‘s US, English and Italian DCM practice covers EMTN programmes, Eurobonds, private placements, high-yield bonds, Yankee bonds, and green, social and sustainable bonds. It also routinely advises on regulatory capital, hybrid securities, project bonds, liability management transactions, structured products, and derivatives. Giuseppe Barra Caracciolo and Gianluca Fanti are securitisation experts. Ferigo FoscariTommaso Tosi, Francesco Scebba, and Milan and London-based Michael Immordino and Evgeny Scirtò Ostrovskiy (a recent recruit from Kirkland & Ellis International LLP) are also DCM specialists. Pietro Magnaghi and Alessandro Picchi are experienced associates.

Practice head(s):

Giuseppe Barra Caracciolo; Gianluca Fanti; Ferigo Foscari; Michael Immordino; Tommaso Tosi; Francesco Scebba; Evgeny Scirtò Ostrovskiy

Key clients

Acea

Adler Pelzer

Aéroports de la Côte d’Azur

Aeroporti di Roma

AMA

AMCO

Amissima Vita

Amplifon

Astaldi

ASTM

Atlantia

Atlas Capital Markets

Autogrill

Autostrade per l’Italia

Azimut

Banca Akros

Banca IMI

BC Partners

BFF Bank

Banca Ifis

Banca Popolare di Vicenza

Banco BPM

Bank of America Merrill Lynch

Barclays

Biverbanca

BNP Paribas

Cassa di Risparmio di Asti

Cassa di Risparmio di Biella e Vercelli – Biverbanca

Cedacri

Citigroup

Corporation America Italia

Crédit Agricole

Credit Suisse

Credito Fondiario

CVC Capital Partners

De’Longhi

Deutsche Bank

doBank

doValue

Enel and Enel X

Esselunga

E.s.tr.a.

European Investment Fund

Fire

FIS – Fabbrica Italiana Sintetici

Gamenet

Glennmont Partners

Goldman Sachs

GSO Capital Partners

GVS

Hippocrates Holding

Hoist Finance

HP Pelzer Group

HSBC

Ion Analytics, Ion Corporates, Ion Markets

Intercos

International Game Technology

IMA

Intesa Sanpaolo

Jefferies International

JP Morgan

Kedrion

Lone Star Funds

MARR

Mediobanca

Moncler

Morgan Stanley

MPS Capital Services

MotorK

Natixis

NatWest Markets

Oaktree Capital Management

Pemberton Asset Management

Philogen

Piaggio

Pininfarina

Pitagora

Plenitude

Reply

Republic of San Marino

SECO

Standard Chartered Bank

Ruffini Partecipazioni

Salcef Group

SIA

SICIT

Société Générale Corporate & Investment Banking

Società di Progetto Brebemi

TCP Lux Eurinvest

Technoprobe

Toscana Aeroporti

UBI Banca

UniCredit

Wind Tre

Work highlights

  • Advised Autostrade per l’Italia (as issuer) on a consent solicitation launched on nine series of outstanding bonds (guaranteed by Atlantia).
  • Advised BNP Paribas and Credit Suisse (as joint global coordinators and joint physical bookrunners) and Banca Akros – Gruppo Banco BPM, IMI-Intesa Sanpaolo and UniCredit (as joint bookrunners) on the debut issuance of €350m sustainability-linked senior secured notes by FIS- Fabbrica Italiana Sintetici.
  • Advised Goldman Sachs Bank Europe and other senior lenders on the restructuring and €150m increase of the senior tranche of Casavo’s securitisation programme.

Italy > Capital markets: Equity Tier 1

White & Case (Europe) LLP‘s sizeable US, English and Italian team covers the gamut of ECM products, including IPOs, rights issues, secondary offerings, and accelerated book buildings (ABBs). Other areas of expertise are private investments in public equity (PIPEs) and equity-linked products, including exchangeable and convertible bonds. The key partners to note are Ferigo Foscari, whose recent track record includes large IPOs on the Italian market and New York-qualified lawyer Michael Immordino, who works in both Milan and London. IPO expert Piero de Mattia. Alessandro Picchi is an experienced associate.

Practice head(s):

Ferigo Foscari; Michael Immordino; Piero de Mattia

Key clients

Acea

Adler Pelzer

Aéroports de la Côte d’Azur

Aeroporti di Roma

AMA

AMCO

Amissima Vita

Amplifon

Astaldi

ASTM

Atlantia

Atlas Capital Markets

Autogrill

Autostrade per l’Italia

Azimut

Banca Akros

Banca IMI

BC Partners

BFF Bank

Banca Ifis

Banca Popolare di Vicenza

Banco BPM

Bank of America Merrill Lynch

Barclays

Biverbanca

BNP Paribas

Cassa di Risparmio di Asti

Cassa di Risparmio di Biella e Vercelli – Biverbanca

Cedacri

Citigroup

Corporation America Italia

Crédit Agricole

Credit Suisse

Credito Fondiario

CVC Capital Partners

De’Longhi

Deutsche Bank

doBank

doValue

Enel and Enel X

Esselunga

E.S.TR.A.

European Investment Fund

Fire

F I S — Fabbrica Italiana Sintetici

Gamenet

Glennmont Partners

Goldman Sachs

GSO Capital Partners

GVS

Hippocrates Holding

Hoist Finance

HP Pelzer Group

HSBC

Ion Analytics, Ion Corporates, Ion Markets

Intercos

International Game Technology

IMA

Intesa Sanpaolo

Jefferies International

JP Morgan

Kedrion

Lone Star Funds

MARR

Mediobanca

Moncler

Morgan Stanley

MPS Capital Services

MotorK

Natixis

NatWest Markets

Oaktree Capital Management

Pemberton Asset Management

Philogen

Piaggio

Pininfarina

Pitagora

Plenitude

Reply

Republic of San Marino

SECO

Standard Chartered Bank

Ruffini Partecipazioni

Salcef Group

SIA

SICIT

Société Générale Corporate & Investment Banking

Società di Progetto Brebemi

TCP Lux Eurinvest

Technoprobe

Toscana Aeroporti

UBI Banca

UniCredit

Wind Tre

Work highlights

  • Advising Plenitude on its IPO.
  • Advised Mediobanca and Intesa Sanpaolo, as joint global coordinators and joint bookrunners, on the IPO of Technoprobe ordinary shares on Euronext Growth Milan.
  • Advised Intercos on its Rule 144A and Regulation S IPO on Euronext Milan.

Italy > EU and competition law Tier 2

White & Case (Europe) LLP fields ‘an excellent team with terrific breadth‘. The Italy competition practice’s track record includes heavyweight cartel and abuse of dominance investigations before the Italian Competition Authority. It also routinely advises on the merger control notification and clearance of major international deals. Veronica Pinotti represents Italian and international clients before the European Commission, the Italian and international competition and regulatory authorities, and the civil and administrative courts. Martino Sforza is ‘an exceptional lawyer‘, and associate Patrizia Pedretti focuses on EU and Italian antitrust and competition law.

Practice head(s):

Veronica Pinotti

Testimonials

‘An excellent team with terrific breadth and depth in a variety of areas arising from competition and antitrust, consumer protection and foreign investment issues.’

‘Veronica Pinotti and her team are able to provide legal assistance at the highest levels.’

‘Veronica Pinotti and her team have built a solid track record in antitrust law.’

‘Veronica Pinotti always knows what is going on and with whom to talk.’

‘Veronica Pinotti and Martino Sforza are extremely passionate and enthusiastic people – it is a pleasure to work with them’

‘Veronica Pinotti and Martino Sforza are both very effective.’

‘Exceptional lawyer Martino Sforza is always up to date on the law and case precedents – he is also excellent with detail.’

‘Patrizia Pedretti is a very good communicator.’

Key clients

Alstom

Amazon EU

Autosock Operations

BC Partners

Daikin

Daimler

Danone

Mellin

Nutricia Italia

Davide Campari Milano

Dyson

Eco-Bat

Energean Oil & Gas

Eni

Meta

Ferrero Italia

GVS

Heineken Italia

HSBC

Huawei Italia

Husky

Hytera

Hyundai Motor Company

Itron

Japan Tobacco International

McDonald’s

Fondazione Ronald McDonald Italia

MOL

Nestlé

Octapharma

Pastificio Rana

Peninsula Capital

Pernod Ricard

PFH – Palladio Holding

Pfizer Italia

Pro-Gest

Ralph Lauren Europe

Veronesi Holding

Warner Bros Entertainment Italia

Work highlights

  • Successfully assisted Warner Bros with cartel proceedings initiated by the Italian Competition Authority against ANICA, ANEC and ANEC Lazio, in relation to an alleged restrictive agreement.
  • Successfully represented Husky, an international manufacturer of PET container machines, in proceedings initiated by the Italian Competition Authority for alleged breach of abuse of dominant position rules.
  • Advised Nestlé on the European Commission notification and clearance of its acquisition (through its joint venture with competitor Lactalis) of certain Parmalat assets.

Italy > Private equity Tier 2

Leveraging its far-reaching international network, White & Case (Europe) LLP supports private equity funds and financial sponsors on a wealth of deals, including inbound investments, and is also adept in add-on acquisition and growth strategy support. The practice is distinctly geared to provide on-site Italian, English and New York law capabilities and is home to Leonardo Graffi, a lawyer especially well-regarded for his public, private and cross-border M&A capabilities. A further name of prominence is Alessandro Seganfreddo, who has expertise handling deals in the financial services, retail, consumer products, transport, TMT and pharmaceutical sectors.

Practice head(s):

Ferigo Foscari; Leonardo Graffi; Michael Immordino; Alessandro Seganfreddo

Key clients

Ambienta SGR

Antin Infrastructure Partners

Arjun Infrastructure Partners

BC Partners

BlackRock Investment Management

Blackstone Tactical Opportunities Advisors

Capvis Equity V

CDP Venture Capital

Centerbridge

CEE Equity Partners

Cobepa

CVC Capital Partners

Elliott Capital

First State Investments

Fortress Investment Group

FSI SGR

Global Infrastructure Partners

Goldman Sachs International

IK Investment Partners

Infracapital

InfraVia Capital Partners

LionRock Capital

Macquarie Asset Management

Muzinich

Neuberger Berman

Oaktree

Peninsula Capital

PFH Palladio Holding

ProA Capital

Starwood Capital Group

Summit Partners

Tengram Capital Partners

Trilantic Capital Partners

Verlinvest S.A.

VGO Capital Partners

White Bridge Investments

Work highlights

  • Advised international investment firm BC Partners LLP on its co-controlling investment, together with US global private investment firm Bain Capital Private Equity, in Fedrigoni S.p.A.
  • Advised the independent UK investment firm Peninsula Capital S.a.r.l. in connection with its acquisition of Isem S.r.l..
  • Advised Macquarie Asset Management, in a consortium with British Columbia Investment Management Corporation (BCI) and MEAG Munich Ergo Assetmanagement GmbH (MEAG), in connection with its €2.5 billion EV acquisition of Reden Solar from InfraVia Capital Partners and Eurazeo.

Italy > Banking and finance: Bank regulatory Tier 3

Enjoying strong relationships with banking and financial sector entities, White & Case (Europe) LLP‘s ‘extremely efficient‘ bank regulatory practice covers corporate governance issues, shareholding structures, organisational models and outsourcing arrangements, along with capital requirements and other regulatory-driven deals. Italy financial services regulatory practice head Alessandro Zappasodi, and experienced associate Licia Mongiello, were recruited from Pedersoli Studio Legale during 2021, while financial regulatory associate Andrea Lamonica is a February 2022 arrival from Chiomenti.

Practice head(s):

Alessandro Zappasodi; Licia Mongiello; Andrea Lamonica

Testimonials

The team is extremely efficient in terms of competence, efficiency, ability to understand the questions asked (from a business-oriented perspective), and very quick in providing replies and producing the required documentation.

Dedicated and involved teams.

Excellent responsiveness and strong knowledge of the regulatory framework.

Key clients

Banca di Asti

BC Partners Credit

BFF Bank

Crédit Agricole Corporate & Investment Bank

Klarna

Intesa Sanpaolo

Snatt Logistica

Société Générale Group

Work highlights

  • Advised BC Partners Credit on structuring a syndicated acquisition finance loan, through Italian securitisation vehicle Agorà Finance and UniCredit (as co-lenders), to a company that is dedicated to holding equity stakes in industrial and real estate entities.
  • Advised BFF Bank on the issuance of subordinated notes, eligible as additional Tier 1 capital instruments, and the redemption of existing tier 2 capital instruments (through the exercise of a call option).
  • Advised SNATT Logistica (and certain affiliates) on the contribution of 20 logistics assets to an Italian real estate investment fund.

Italy > Commercial, corporate and M&A Tier 3

White & Case (Europe) LLP forms a piece of a global corporate and M&A team, consisting of over 500 lawyers globally; its lawyers in Milan work in close tandem with their colleagues aboard and excel on public M&A, private equity and venture capital deals, demonstrating distinct accomplishment in pharma, healthcare and infrastructure-related deals. The team is home to Leonardo Graffi, qualified in both Italy and New York, who is also adept in banking, insurance, retail and aviation, as well as Alessandro Seganfreddo who acts for a number of consumer product, technology, media and telecommunications players; the duo co-head the team alongside Ferigo Foscari, Michael Immordino and Maria Cristina Storchi. At associate level, Sara Scapin supplements her transactional know-how with knowledge of commercial contracts and golden power regulations.

Practice head(s):

Ferigo Foscari; Leonardo Graffi; Michael Immordino; Alessandro Seganfreddo; Maria Cristina Storchi

Other key lawyers:

Sara Scapin; Andrea Pretti; Caitlin Powell Gimpel

Testimonials

‘Hands-on, knowledgeable, proactive.’

‘The Italian M&A team is excellent, proactive, business oriented with practical solutions that help to overcome any difficulty with the counterparties. Total commitment in terms of time and senior resources to the deals’

‘Leonardo Graffi is outstanding in negotiation and in addressing the critical issues of a deal.’

Key clients

Accelero Capital

Antin Infrastructure Partners

Ardian Growth Capital

BC Partners

Blackstone

CDP Venture Capital

CEE Equity

Centerbridge

Cobepa

CVC Capital Partners

Evolution Equity Partners

FSI SGR

IK Investment Partners

KKR

LionRock Capital

Macquarie Asset Management

Muzinich & Co.

NB Aurora

Oaktree Capital Management

PAG Asia

PFH Palladio Holding

Peninsula Capital

ProA Capital

Progressio

Trilantic Capital Partners

Verlinvest

White Bridge Investments

Barclays

Banco BPM

Goldman Sachs

Intesa Sanpaolo

JP Morgan

UniCredit

Work highlights

  • Represented international investment firm BC Partners LLP on its co-controlling investment, together with US global private investment firm Bain Capital Private Equity, in Fedrigoni S.p.A. The transaction involves the divestment in Fedrigoni by Bain Capital through the Bain IV fund, and the subsequent investment by BC Partners and Bain Capital’s Bain VI fund.
  • Represented Enel X S.r.l. in connection with the envisaged carve out of Enel S.p.A. public e-mobility business into Blaze Holding S.p.A., an Italian holding newly incorporated subsidiary of Enel S.p.A. and its subsidiaries and the subsequent IPO or De-SPAC of Blaze Holding S.p.A. Enel X S.r.l. is a company that belongs to the Enel Group.
  • Represented the leading Italian food retailer Esselunga Group in connection with the €435 million acquisition from UniCredit of 32.5 percent of the share capital of La Villata S.p.A. Immobiliare di Investimento e Sviluppo, the real estate holding company of Esselunga Group which owns more than 80 buildings used by Esselunga as stores of GDO.

Italy > Restructuring and insolvency Tier 3

White & Case (Europe) LLP’s expertise lies in handling complex restructurings and special situation investments across multiple jurisdictions. Giuseppe Barra Caracciolo specialises in lending through securitisation structures, while Iacopo Canino advises clients on leveraged finance. The ‘commercially savvyGianluca Fanti is an expert on distressed asset disposals, and Andrea Novarese is experienced in debt restructuring and project finance. Maria Cristina Storchi brings knowledge of private equity to the team.

Practice head(s):

Giuseppe Barra Caracciolo; Iacopo Canino; Bianca Caruso; Gianluca Fanti; Tiziana Germinario; Andrea Novarese; Francesco Scebba; Maria Cristina Storchi

Other key lawyers:

Bianca Caruso; Tiziana Germinario; Francesco Scebba

Testimonials

‘Gianluca Fanti is a top performer: experienced, balanced, commercially savvy.’

‘Fully Fledged capabilities. International perspective add value and ensure best practices are used.’

‘Andrea Novarese is our reference point in the restructuring market; strong capacity to advice clients on decisions take under uncertain conditions.’

‘Maria Cristina Storchi- undisputed quality in mixing restructuring and capital markets perspectives.’

Key clients

Alisarda – Air Italy

Apeiron Investment Group

Apollo Management International

Banco BPM

Banca Ifis

Banca Monte dei Paschi di Siena S.p.A.

Blackstone (formerly GSO Capital Partners)

BPER

Cariparma (Credit Agricole)

Carval Investors

Cassa di Risparmio di Asti

Compagnia Internazionale Tessuti

Fingen

Gemmo

Gruppo D’Alesio

Hertz Global Holdings, Inc.

HSBC

Intesa Sanpaolo

IRGEN RE

Mediobanca

Novalpina Capital

Oaktree

Oak Hill

Sound Point

UniCredit

VGO Capital Partners

York Capital Management Europe

Work highlights

  • Advised Compagnia Internazionale Tessuti in connection with the reorganization of its corporate structure and the restructuring of its indebtedness for the purpose of overcoming its situation of financial distress.

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