Astro Finalizes Sale of Majority Shareholding in MED Computer to R-Store
Deal News | Nov 07, 2024 | Withers
Withers, an international law firm, has successfully advised Astro on selling its majority shareholding in MED Computer to R-Store, enabling R-Store to become Apple's leading Premium Partner in Italy. The acquisition involves several subsidiaries under Med Computer, namely Juice, Rekordata, ICT, and Med Innovation. This transaction ensures that R-Store will boast over 100 stores, a workforce of 900 employees, and a revenue of 600 million euros, marking a significant expansion in its operational footprint. The founders' children, Stefano and Lucia Parcaroli, will maintain executive roles in the company to ensure continuity post-acquisition. The acquisition financing was arranged by Italian financial institutions, including Cassa Depositi e Prestiti and Bnl-Bnp Paribas, among others. Multiple legal and financial advisers contributed to both the buying and selling parties, guiding the corporate, antitrust, and banking aspects of the transaction.
Sectors
- Retail
- Legal Services
- Corporate Finance
- Technology
Geography
- Italy – The companies involved are notable Italian entities, and the transaction significantly impacts the Apple retail sector in Italy.
Industry
- Retail – The article discusses the acquisition of MED Computer, a company involved in retail, specifically as a premium Apple retailer.
- Legal Services – Withers and other law firms provided significant legal advisory roles during the transaction.
- Corporate Finance – The transaction involved corporate financing, with major financial institutions in Italy financing the acquisition.
- Technology – MED Computer is deeply involved in the technology sector as one of the first Apple retailers in Italy.
Financials
- 600 million – Revenue achieved by R-Store post-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Astro | Selling Company | Company | The original owner of the majority shareholding in MED Computer. |
| MED Computer | Target Company | Company | An Italian company founded in 1982, providing retail and B2B solutions, and one of the first Apple official retailers. |
| R-Store | Bidding Company | Company | The company acquiring the majority shareholding in MED Computer, aiming to become Apple's top Premium Partner in Italy. |
| Withers | Legal Advisor | Company | Provided legal advice to Astro during the transaction. |
| Cassa Depositi e Prestiti | Financier | Company | One of the financial institutions arranging the financing of the acquisition. |
| Medio Credito Centrale | Financier | Company | Another financial institution involved in arranging the acquisition financing. |
| Sace | Financier | Company | Involved in the financial arrangement of the acquisition. |
| BNL-BNP Paribas | Financier | Company | Acted as arranger and agent for the pool of banks financing the acquisition. |
| 1Loop | Minority Shareholder | Company | The minority shareholder that sold its stake in MED Computer to R-Store. |