DoValue Completes Acquisition of Gardant
Deal News | Dec 10, 2024 | Legal Community Italy
DoValue, a leading provider of strategic financial services in Southern Europe, has successfully acquired 100% of Gardant, an Italian credit management firm. The deal involved high-profile advisory roles, with White & Case and BonelliErede representing DoValue, and Herbert Smith Freehills and Legance assisting Elliott Advisors and Gardant, respectively. The acquisition was financed through a €240 million term credit line as part of a broader €526 million financing agreement. Additionally, DoValue has carried out a capital increase, backed by key shareholders and a bank syndicate, to support the transaction.
Sectors
- Financial Services
- Legal Services
Geography
- Italy – Gardant is an Italian credit management firm, making Italy a central focus in this transaction.
- United Kingdom – Firms and partners from the UK, specifically Herbert Smith Freehills, played significant roles in this acquisition.
Industry
- Financial Services – The transaction involves DoValue, a financial services provider, and Gardant, a credit management firm.
- Legal Services – Several prominent law firms such as White & Case, BonelliErede, Herbert Smith Freehills, and Legance were involved in the legal advisory of the acquisition.
Financials
- €230 million – Total consideration for the acquisition of Gardant, including cash payment and debt recognition.
- €240 million – Term credit line provided to finance the acquisition.
- €150 million – Maximum amount for the capital increase carried out by DoValue.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DoValue | Bidding Company | Company | A leading provider of strategic financial services in Southern Europe, acquirer in this transaction. |
| Gardant | Target Company | Company | An Italian credit management firm acquired by DoValue. |
| Tiber Investments | Selling Company | Company | Connected to Elliott Advisors, involved in selling Gardant. |
| Elliott Advisors | Financial Advisor | Company | Provided advisory services related to the transaction, a major stakeholder in the deal. |
| White & Case | Legal Advisor | Company | Provided legal assistance to DoValue in the acquisition process. |
| BonelliErede | Legal Advisor | Company | Assisted DoValue with legal expertise in banking, finance, and regulatory aspects. |
| Herbert Smith Freehills | Legal Advisor | Company | Assisted Elliott Advisors in reinvestment and capital markets activities related to the deal. |
| Legance | Legal Advisor | Company | Assisted Gardant in legal and regulatory matters related to the acquisition. |