White & Case advises lenders in Moltiply's €450M Verivox acquisition
Deal News | Apr 01, 2025 | White & Case LLP
White & Case LLP, a global law firm, has provided advisory services to a group of lenders involved in financing Moltiply Group S.p.A.'s acquisition of Verivox Holding GmbH and its subsidiaries. The financing deal, valued at €450 million, was facilitated by Moltiply through its investment vehicle, Lucky Fox S.r.l. Verivox is recognized as a German online platform specializing in comparison and brokerage markets. Moltiply Group, through its subsidiaries, offers platform-based comparison services and handles outsourcing for credit processes alongside asset and insurance claims management, predominantly across Italy. The lender consortium includes banks like Intesa Sanpaolo S.p.A., UniCredit S.p.A., and Banco BPM S.p.A., who played roles of mandated lead arrangers, bookrunners, underwriters, and original lenders. The advising team from White & Case involved various experts, with the main efforts spearheaded by partner Stefano Bellani, counsel Sascha Schmidt, associate Nicola Tosin, and lawyer Anna Sabatti across offices in Milan and Frankfurt.
Sectors
- Financial Services
- Legal Services
- Technology and Online Services
Geography
- Germany – Verivox, the acquired company, is based in Germany and operates in the German online market.
- Italy – Moltiply Group, the acquiring company, is based in Italy and offers services within this market.
Industry
- Financial Services – The article involves significant financing aspects, with banks acting as lenders and financial arrangers in the acquisition.
- Legal Services – White & Case LLP, a law firm, provided legal advisory services for the transaction, highlighting the critical role of legal expertise in M&A activities.
- Technology and Online Services – Verivox operates in the online comparison and brokerage markets, making this sector relevant to the article.
Financials
- €450 million – The amount financed for Moltiply's acquisition of Verivox.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| White & Case LLP | Legal advisor | Company | A global law firm that advised the lenders on the financing transaction. |
| Moltiply Group S.p.A. | Acquirer | Company | An Italian company that acquired Verivox through its investment vehicle. |
| Verivox Holding GmbH | Target company | Company | A German company operating in the online comparison and brokerage markets. |
| Intesa Sanpaolo S.p.A. | Lender | Company | An Italian bank serving as one of the financing arrangers. |
| UniCredit S.p.A. | Lender | Company | A major European bank acting as one of the lead arrangers in the deal. |
| Banco BPM S.p.A. | Lender | Company | An Italian bank involved as an underwriter and original lender for the transaction. |
| Lucky Fox S.r.l. | Investment vehicle | Company | The investment vehicle used by Moltiply Group in the acquisition. |
| Stefano Bellani | Partner | Person | Partner at White & Case LLP who was involved in advising on the transaction. |
| Sascha Schmidt | Counsel | Person | Counsel at White & Case LLP who contributed to the legal advisory services. |
| Nicola Tosin | Associate | Person | Associate at White & Case LLP who assisted in the transaction advice. |
| Anna Sabatti | Lawyer | Person | Lawyer at White & Case LLP involved in the legal advisory team. |