SCIF Streetlighting Italy acquires 100% of Selettra Illuminazione Pubblica
Andersen professionals Gherardo Cadore, Carlo Riso and Carlotta Pecora assisted SCIF STREETLIGHTING ITALY in the acquisition of the Italian industry leader Selettra Illuminazione Pubblica S.r.l., playing a key role in the successful outcome of the negotiations.
SCIF Streetlighting Italy S.r.l. with sole shareholder, wholly owned by SCIF Industiries LTD – an innovative investment fund, controlled by Patrizia Infrastructure LTD and part of the broader corporate group attributable to the German fund Patrizia SE, that invests, on a global scale, in infrastructure projects aimed at enhancing Smart City solutions in a wide range of areas, such as mobility, energy management, security, environment and sustainability – (“SCIF” or the “Buyer”), acquired the 100% of Selettra Illuminazione Pubblica S.r.l. (the “Company”), an Italian company active in the business of the supply of energy efficiency services in the public lighting sector in the smart cities business and the energy community business, from the Italian company Selettra S.p.A. (“Selettra” or the “Seller”) for an overall purchase price of about 87 million of Euros.
The acquisition represents as result of the SCIF Industries LTD’s business plan, focused on expanding and diversifying the Buyer’s product portfolio, as well as on the strengthening of its international footprint, which will lead to further acquisition of infrastructure investment.
The signing of the agreements regulating the acquisition of the Company represents the successful outcome of a complex and lengthy negotiation process that involved many parties. The transaction set forth under such agreements represent a fundamental turning point for the Buyer and for SCIF Industiries LTD, aimed, inter alia, to an increase their strategic business in the sector of energy efficiency services and public lighting sectors.
The acquisition has been led, on the Buyer side, by Andersen with the support of the lawyers Gherardo Cadore and Carlo Riso for the legal aspects and Carlotta Pecora for the labor part, and by ValeCap as advisor for the for the financial aspects.
On the Seller side, Selettra has been assisted by Deloitte Legal – Società tra Avvocati r.l. S.B., with the support of the lawyers Stefano Cirino Pomicino, Gabriele Giaccari, Silvia Maria Redaelli and Fabiola Gigli for the legal aspects and by the lawyers Emilio Cucchiara and Marzia Del Vaglio for the antitrust and Golden Power aspects, and by CMC Capital, with the support of the advisors Carlo Calabria, Stefano Soldi, Marco D’Orfeo e Niccolò Borrelli, for the financial aspects.