Astrea Finances Bifire Acquisition with Chiomenti & CRCCD
Deal News | Mar 31, 2025 | Legal Community Italy
Chiomenti and Cappelli Riolo Calderaro Crisostomo Del Din & Partners (CRCCD) performed advisory roles in the financing of a voluntary total acquisition offer by Astrea for Bifire, a company specializing in thermal insulation and fire protection solutions for the construction and industrial sectors. Astrea has been specifically set up by Altus, under the leadership of Alberto Abbo, to initiate this bid. The offer, which targets the complete acquisition of 2,291,500 shares (representing 13.13% of Bifire's capital), aims at delisting the company from Piazza Affari. The transaction is backed by financial resources from Equilybra X and Intesa Sanpaolo. Chiomenti coordinated with Intesa Sanpaolo on the lending and issuance, with its legal team comprising partner Davide DAffronto, counsel Maria Ilaria Griffo, and associate Francesca Mecca Galgano. Tax aspects were managed by of counsel Maurizio Fresca and associate Giovanni Massagli. For Astrea's financial operations, CRCCD's team, including partner Morena Bontorin and associate Giuseppe Murano, provided their expertise. The international law firm Gianni & Origoni, through a team led by partners Massimo Tesei and Carlo Mecella, and supported by Marco Barbi and Vittorio Dullia, managed all legal aspects concerning the takeover bid.
Sectors
- Legal Services
- Construction and Industrial Materials
- Financial Services
Geography
- Italy – The transaction involves companies operating in Italy, and strategic financial and legal advisories from the Italian market.
Industry
- Legal Services – The article prominently involves multiple legal advisory firms providing essential services in the financing and execution of a corporate acquisition.
- Construction and Industrial Materials – Bifire operates within the construction and industrial sectors, providing thermal insulation and fire protection solutions.
- Financial Services – Intesa Sanpaolo is involved as a lender and issuing bank, emphasizing the financial services sector's role in this transaction.
Financials
- 2,291,500 shares – The acquisition offer targets 2,291,500 shares, representing 13.13% of Bifire's capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Astrea | Bidding Company | Company | Astrea, a company established by Altus led by Alberto Abbo, is the bidder in this acquisition of Bifire. |
| Bifire | Target Company | Company | Bifire produces thermal insulation and fire protection solutions and is the target of Astrea's acquisition offer. |
| Chiomenti | Legal Advisor | Company | Chiomenti served as the legal advisor for Intesa Sanpaolo, covering different legal aspects of the transaction. |
| Cappelli Riolo Calderaro Crisostomo Del Din & Partners (CRCCD) | Legal Advisor | Company | CRCCD acted as the financial legal advisor for Astrea in this transaction. |
| Intesa Sanpaolo | Lender and Issuing Bank | Company | Intesa Sanpaolo provided financial support as a lender and issuing bank for the acquisition undertaking. |
| Equilybra X | Financial Support | Company | Equilybra X provided financial backing for the acquisition of Bifire by Astrea. |
| Gianni & Origoni | Legal Advisor | Company | Gianni & Origoni managed all legal aspects related to launching the takeover bid for delisting. |