Newlat Group Initiates Sale of 6.8% Stake in Newlat Food
Deal News | Feb 11, 2025 | Finance Community IT - 1 Corporate M&A
Newlat Group has commenced the sale of up to 3,000,000 ordinary shares, which amounts to approximately 6.8% of Newlat Food's share capital. The offering is being conducted via an accelerated bookbuilding process, targeted at certain institutional investors, including international ones under Regulation S of the United States Securities Act of 1933. The process has begun immediately, with the seller retaining the right to change the terms or timing. Equita SIM is serving as the sole global coordinator and bookrunner for this offering, while BonelliErede is acting as legal counsel. The seller has committed to a 180-day lock-up period, during which they will not dispose of the remaining shares without prior consent from Equita SIM. Proceeds from the sale will be used by the seller to execute an option agreement with Mitsubishi Corporation, which involves 9,319,841 shares, representing about 21.2% of Newlat Food's share capital.
Sectors
- Food and Beverage
- Financial Services
- Legal Services
Geography
- Italy – Newlat Group and Newlat Food are based in Italy, making this the primary geographical classification.
- International – The involvement of institutional investors under Regulation S suggests a broader international dimension.
Industry
- Food and Beverage – The article involves Newlat Food, a company operating in the food and beverage sector.
- Financial Services – The involvement of Equita SIM in an advisory and financial coordination role places the article within this industry.
- Legal Services – BonelliErede's role as legal counsel positions this article within the legal services sector.
Financials
- 3,000,000 – Number of Newlat Food shares Newlat Group is selling.
- 6.8% – Percentage of Newlat Food's share capital being sold.
- 9,319,841 – Shares involved in the option agreement with Mitsubishi Corporation.
- 21.2% – Percentage of Newlat Food's share capital in option agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Newlat Group | Vendor | Company | The parent company initiating the sale of shares in Newlat Food. |
| Newlat Food | Target Company | Company | The company whose shares are being sold. |
| Equita SIM | Global Coordinator and Bookrunner | Company | Handles the financial coordination and bookrunning of the offering. |
| BonelliErede | Legal Counsel | Company | Provides legal advice to Newlat Group. |
| Mitsubishi Corporation | Counterparty in Option Agreement | Company | Involved in a share option agreement with the vendor. |