Corporate/M&A: Italy

THE FIRM The depth and breadth of this firm's corporate team is truly impressive. Combining technical skill with extensive market experience, Bonelli Erede Pappalardo is one of the undisputed leaders in this field and is regularly instructed by high-profile Italian and multinational clients. A recent highlight saw the group advise Apax Partners, TA Associates and Madison Dearhorn Partners on VimpelCom's EUR16 billion share swap acquisition of minority shareholdings in Weather Investments. 

Sources say: "The quality of service is always fantastic; the team is very reliable and working with them is a pleasure because they know our business so well."

KEY INDIVIDUALS Franco Bonelli and Sergio Erede are two of the market's most respected practitioners and continue to handle notable M&A transactions. Erede recently assisted Crédit Agricole with its acquisition of 80% of the share capital of Cassa di Risparmio della Spezia and of 96 Italy-based branches of Intesa Sanpaolo. Roberto Cera provides a fully rounded offering on corporate and M&A work thanks to his substantial finance and capital markets expertise. Umberto Nicodano often advises international clients and both he and Cera are assisting LVMH in a mandatory public tender offer of shares in Bulgari, transferred in a share swap acquisition. Genoa-based Giovanni Domenichini enjoys a notable academic profile, whilst Alberto Saravalle complements his corporate expertise with knowledge of real estate financing and capital markets. Alessandro Balp is known for his experienced contributions on high-end corporate deals, whilst clients enthuse about Andrea Carta Mantiglia's superb technical ability.

THE FIRM This fantastic full-service team enjoys a sterling reputation thanks to its experience and involvement in many of the market's most significant transactions. As well as its dedicated domestic focus, the firm has a number of international offices that allows it to handle complex cross-border work. The team recently assisted Prima Holding with the acquisition by Asset Management Holding of Anima and Prima through a combination of cash offers and share capital increases.

Sources say: "Excellent on technical aspects, as well as in negotiations."

KEY INDIVIDUALS One of the top M&A lawyers in the country, Michele Carpinelli has a broad corporate practice that also encompasses energy and capital markets. Carlo Croff brings considerable business insight to transactions and is regularly involved in some of the market's most significant mandates. The excellent Francesco Tedeschini is one of the team's leading figures and handles a vast range of corporate and M&A work. Luca Fossati is noted for his skill in negotiations, whilst Filippo Modulo has been particularly active in energy transactions of late. 

THE FIRM Combining the qualities of a boutique with the resources of an international firm, Cleary Gottlieb wins praise for its consistently high-quality service. The team is made up of professionals with various specialisations, enabling it to provide clients with a personalised and flexible approach. As testament to its strength in a range of corporate matters, the team is currently advising A2A on the possible industrial and corporate reorganisation of Edison.

Sources say: "The firm really helped us shape the deal and is very good at coming up with innovative solutions."

KEY INDIVIDUALS The outstanding Roberto Casati is widely regarded as a superstar of the Italian market. As one client declared: "He leads negotiations and brings a lot of commercial insight. He is definitely what we need in complicated transactions." Roberto Bonsignore also earns respect from sources and both he and Giuseppe Scassellati-Sforzolini have considerable international strength. They are currently assisting ENI with the disposal of gas transport assets in Austria and Germany.

THE FIRM A leading independent firm, Gianni Origoni Grippo boasts one of the largest and most experienced corporate teams in Italy. The group is well versed in the full spectrum of issues, such as governance, regulatory matters and complex M&A deals, and has an excellent understanding of the local business environment. Clients also benefit from the firm's international network, which enables it to offer a seamless cross-border service.

Sources say: "The lawyers are hard-working, flexible and easy to work with. Impeccable service."

KEY INDIVIDUALS Francesco Gianni enjoys a tremendous reputation in the market and is appreciated by clients for his good working relationship with regulatory bodies. Clients laud Alessandro Giuliani's extremely dedicated service: "He is collaborative, intelligent and quick to help us with any issue." Raimondo Premonte continues to gain valuable client recognition and is highlighted for his strong problem-solving approach. Recent arrival Roberto Cappelli is one of the country's top lawyers in this field and he enjoys tremendous respect from the market.

THE FIRM This long-established firm is enjoying a period of growth, having recently boosted its Turin office with a number of lateral hires. It continues to enjoy a tremendous reputation for corporate and M&A work, particularly in the industrial and financial industries. The team attracts an impressive roster of clients from both Italy and abroad, including Intesa Sanpaolo, MI Real Estate and UBI Banca.

Sources say: "The lawyers are very hands-on and the analysis is always accurate. Best of all, the rates are extremely competitive."

KEY INDIVIDUALS Carlo Pedersoli "is not only a legal adviser but also understands the business issues," raves one client. Alessandro Dubini is renowned for his work in high-end corporate transactions in the banking sector, whilst Piero Albertario earns praise for delivering consistently strong advice. Sources hail Ascanio Cibrario as an excellent negotiator and value his ability to "find the right balance between commercial needs and legal protection." Andrea Gandini is highly skilled in M&A transactions and impresses clients with his "outstanding commitment." Antonio Pedersoli has a lot of experience in M&A and private equity transactions and often advises major industrial groups.

THE FIRM This international heavyweight cements its position as one of the leading international firms in the market after another successful year. The team has acted on a number of complex corporate transactions, utilising its strength in other practice areas, as well as the resources of its vast global network. A notable highlight saw the group advise Permira/Birds Eye Iglo on its acquisition of Findus Italy from Unilever, one of the largest LBO transactions in recent years.

Sources say: "The team is very positive and eager to help."

KEY INDIVIDUALS Department head Paolo Sersale is commended for his dedicated client service and personable approach to negotiations. Umberto Penco Salvi continues to represent high-profile domestic and international clients and has been notably active in energy transactions of late. Alberta Figari has exceptional capital markets expertise and was the Italian partner responsible for the Findus acquisition.

THE FIRM DLA Piper impresses sources with its full-service capability and strength in multi-jurisdictional deals. The team continues to reap the benefits of its recent expansion and has been particularly active in the finance and energy sectors. Sources recognise the firm as a growing force in the market, especially for cross-border work, and recent mandates include advising KGAL on the acquisition of five photovoltaic energy projects in Italy.

Sources say: "It is more like a branch of our business rather than an external adviser."

KEY INDIVIDUALS The talented Wolf Michael Kühne is especially visible in Italo-German deals, whilst Antonio Lombardo receives remarkable market feedback for his "outstanding" service.

THE FIRM A traditional Italian outfit, this group is a solid player in the mid-to-large market. The team is noted for its domestic expertise, which covers the whole spectrum of corporate and M&A work. The lawyers' broad specialisations grant the team a great degree of flexibility and attract clients from various industries. Recent mandates include assisting Drive Rent and Coba Automotive Technologies with their EUR200 million merger.

KEY INDIVIDUALS Standout name Carlo d'Urso handles the full remit of corporate work, including both contentious and non-contentious issues. Francesco Gatti's broad practice encompasses antitrust, M&A and finance. He recently advised Enel Distribuzione on the sale of Società Electrica Altoatesina. Stefano Valerio heads the practice and maintains his prolific activity in the corporate field.

THE FIRM This firm is held in high esteem by peers, who note that it has had a very successful year. Working out of Rome and Milan, the team often handles significant corporate and commercial matters for leading Italian corporations. International work is also a strong aspect of the group's work and clients benefit from the resources of the wider Freshfields network. A notable highlight saw the team advise Prysmian on the mixed cash and shares public offer for Draka Holding, valued at EUR1.175 billion.

Sources say: "Outstanding at all levels. The team was instrumental in securing a successful outcome and even impressed the counter-party."

KEY INDIVIDUALS Mario Ortu specialises in M&A, private equity and banking and finance. He was recently appointed to a worldwide leadership role for the FIG group. Massimo Benedettelli is praised for his analytical skills, whilst practice head Nicola Asti wins exceptional market feedback for being "completely committed and a great leader."

Since publication, Mario Ortu has joined Orsingher Ortu - Avvocati Associati

THE FIRM Renowned for its strong private equity focus, this boutique has sustained its M&A activity and continues to enjoy important relationships with many leading private equity firms. Offering keen advice on all aspects of public and private M&A, the team often assists leading industrial and financial figures throughout Italy. 

KEY INDIVIDUALS Carlo Pappalettera specialises in structured finance transactions and handles most of the firm's IPO work. Alessandro Triscornia's clients benefit from his broad practice, which covers both M&A and capital markets. The well-respected Enrico Giliberti is noted for his long-standing work on the full spectrum of corporate matters.

THE FIRM On 28 May 2012 the entire team from Dewey & LeBoeuf LLP in Italy joined with Grimaldi e Associati and commenced operations under the name Grimaldi Studio Legale. All clients and work highlights mentioned in our editorial took place whilst the firm was operating as Dewey & LeBoeuf. Recent additions to the team have strengthened this firm's position in the Italian market. As well as handling a raft of mid-market transactions, the group has also been involved in some of the largest deals of the past year, including representing Finmeccanica in its EUR1 billion sale of Ansaldo Energia to Ansaldo Electric Drives. In addition to its growing reputation in domestic matters, the firm remains a popular choice for cross-border work.

Sources say: "The firm has built up its depth of expertise and provides an excellent service on all aspects of a deal."

KEY INDIVIDUALS "Experienced, commercial and effective," Bruno Gattai advised Bain Capital on the EUR565 million sale of Teamsystem to HgCapital. Stefano Speroni is praised by clients as "very deal-oriented and good at forming solid working relationships." Francesco Cartolano has considerable M&A, private equity and venture capital expertise, whilst clients laud Stefano Catenacci for being "hard-working, reliable and solution-oriented."

Since publication, Grimaldi e Associati has merged with Grimaldi Studio Legale

Since publication, Francesco Cartolano has joined Accinni, Cartolano e Associati

Since publication, Bruno Gattai has joined GATTAI, MINOLI & PARTNERS

Since publication, Stefano Catenacci has joined GATTAI, MINOLI & PARTNERS

THE FIRM This firm combines core competence in private equity with experience and quality on general corporate work. Maintaining a high level of activity, the team recently assisted Pirelli with a variety of matters, including the separation of Pirelli Real Estate from the group. Sources particularly value the firm's strength in other practice areas and its ability to pool resources.

Sources say: "It knows our business so well, we often think alike."

KEY INDIVIDUALS Sources value Fabio Labruna's personable manner, praising him for having a "great rapport" with clients. Andrea Mazziotti di Celso has considerable M&A and corporate finance expertise, with one interviewee describing him as "everything I was hoping for."

THE FIRM Offering deep insight into several branches of corporate work, Legance is widely regarded as a growing force in this area. Extremely strong in corporate finance matters, the team also handles important public and private M&A transactions. A notable mandate includes advising the Fiat Group on the structuring of the spin-off of Fiat Industrial and its admission to listing on the MTA Italian stock exchange.

Sources say: "Excellent level of service and availability."

KEY INDIVIDUALS Filippo Troisi is highly recommended for M&A work and recently assisted Swisscom with its tender offer to acquire all remaining shares not already owned in Fastweb. Bruno Bartocci specialises in public and private M&A and often advises clients from the real estate and financial sectors. Andrea Fedi is a talented M&A lawyer, whilst Gabriele Capecchi is renowned for his work in commercial and real estate transactions.

THE FIRM This thriving international firm has had a successful past twelve months and enjoys an increased presence in the corporate field. Utilising its strength in banking and finance, the team expertly handles financing agreements and M&A transactions. It attracts praise for its sophisticated cross-border service and practical solutions. The group has been notably active in energy transactions of late, recently advising Terra Firma on its EUR670 million acquisition of Rete Rinnovabile.

Sources say: "What I like most about the firm is how pragmatic and workable the advice is. The team is also extremely responsive and the fee is good value for money."

KEY INDIVIDUALS Giovanni Pedersoli is valued for his vast corporate expertise and practical counsel.

THE FIRM A well-respected domestic outfit, Studio Legale Pavesi Gitti Verzoni advises a range of clients from its Milan office. The team is noted for its work in the mid-market, covering the full range of corporate and M&A transactions.

KEY INDIVIDUALS Carlo Pavesi is an established civil and commercial law adviser and has ample experience in M&A and joint ventures in the banking and insurance sectors.

THE FIRM This firm is especially recommended for its strong knowledge of the energy and infrastructure sectors. The team has been involved in a number of important mandates for clients in this field, such as SunPower, which it assisted with the sale of a number of solar power plants in Italy.

Sources say: "As well as a good knowledge of the local market, the team really understands what an international client wants."

KEY INDIVIDUALS Giovanni Gazzaniga plays a central role in much of the team's work and draws acclaim for his accessibility and in-depth knowledge of the market. Paolo Ghiglione is "very commercial, helpful and up to date in industry developments," according to sources. He is also noted for his international strength.

THE FIRM Dynamic, innovative and practical, this firm is celebrated as a skilled player in the corporate field. M&A, joint ventures and restructurings have made up the bulk of recent mandates, and the team has sustained its activity, in particular in the energy sector. It represented Coca-Cola Hellenic Bottling Company in the sale of Eurmatik to Gruppo Argenta.

Sources say: "The firm can assist me on various issues in various jurisdictions, which makes for an enjoyable working environment."

KEY INDIVIDUALS Fabio Coppola is highlighted for his dedicated client service. As one interviewee declared: "He is always on top of matters, turns documents around quickly and co-ordinates well with everyone involved." Tommaso Amirante specialises in Italian and international M&A and recently represented the US subsidiaries of the Beni Stabili Group in the disposal of properties and their subsequent leasing in the USA. New arrival Stefano Sciolla has substantial corporate and private equity expertise and continues to advise leading clients such as PAI Partners.

THE FIRM This firm is renowned for its prowess in litigation, making it a strong choice for clients looking for assistance in contentious matters. As well as this, the firm is a reputable adviser on all corporate matters and, with no structured department, the lawyers are able to offer clients a personalised and highly flexible service.

KEY INDIVIDUALS "One of the finest lawyers in the market today," Giuseppe Lombardi impresses sources with his established academic profile. Ugo Molinari is also popular with clients and comes particularly recommended for corporate finance and M&A work.

THE FIRM Despite suffering a number of departures, this firm remains a solid mid-market player with substantial expertise in the full spectrum of corporate and M&A work. The firm recently opened an office in Rome and is building up its team in order to better assist its many domestic and international clients.

Sources say: "A 360-degree service." 

KEY INDIVIDUALS Alberto Toffoletto specialises in corporate finance, M&A and antitrust, and his impressive roster of clients include De Agostini Group, Findim and Deutsche Bank. Clients appreciate Paolo Montironi's technical skill, whilst co-managing partner Vittorio Noseda is renowned for his activity in the communication and technology sectors. Sante Ricci leads the team and earns praise for his intelligent and precise advice.

THE FIRM This firm cements its position in the market after another successful year. Having invested in its corporate department over the past couple of years, the team is well placed to handle a host of issues at both an Italian and global level. It recently advised Meliorbanca on the acquisition of 100% of real estate company Ri. Agnano.

Sources say: "Absolutely excellent; it covers everything we need."

KEY INDIVIDUALS "Extremely effective and very business-oriented," Alessandro De Nicola is admired for his commercial insight and well-organised approach.

THE FIRM This long-established Italian outfit is proficient in a host of corporate and M&A matters. Benefiting from the firm's extensive international network, the team regularly acts for international clients with business in the country, as well as Italian companies with activities abroad. It has been especially active in energy transactions of late.

KEY INDIVIDUALS Associate Luca Cuomo recently joined the firm and receives exceptional client feedback for his "speed, dedication and patience."

THE FIRM Pirola Pennuto Zei provides sterling corporate advice to a number of leading Italian companies, as well as many European entities. The team has extensive experience in the financial sector and recently assisted BNP Paribas with the acquisition of the depositary bank business previously held by Banca Popolare di Milano. 

Sources say: "Very good at applying international standards to Italian law."

KEY INDIVIDUALS Sources value Maurizio Bernardi's experience in M&A and especially rate his "business skills and understanding of a client's needs."

THE FIRM This respected Rome-based boutique is known for its work in the banking and finance sphere and has handled a number of regulatory matters in recent months.

KEY INDIVIDUALS Francesco Carbonetti combines commercial acumen with academic dexterity. He remains busy in corporate work connected to the financial sector. Massimo Tesei's wealth of expertise encompasses M&A, corporate finance and capital markets.

THE FIRM This firm has greatly increased its profile in the market. It has attracted starring roles in a variety of leading Italian and international cases, recently advising Verizon Communications on its participation in Vodafone Omnitel. Sources particularly value the team's cross-border capability.

Sources say: "The client service is fantastic; the team goes out of its way to help you."

KEY INDIVIDUALS Alberto Semeria and Raffaele Giarda lead the team out of Milan and Rome, respectively.

THE FIRM With notable expertise in energy, this firm has been extremely busy this past year. It assisted SunEdison with the sale of Europe's largest photovoltaic power plant to First Reserve. The team remains a consistently strong corporate player and is lauded for working well with other departments.

Sources say: "Prompt, available and accommodating."

KEY INDIVIDUALS Luca Arnaboldi spearheads the team and is a skilled corporate and finance practitioner.

THE FIRM This firm handles a range of corporate and M&A transactions and earns praise for its seamless cross-border service. Clients include multinational banks, companies and private equity firms.

KEY INDIVIDUALS Maurizio Delfino is noted for his positive negotiation style and availability. He is currently representing reinsurance companies Munich Re and ERGO in negotiations with SAI to acquire 29% of La Fondiaria, a leading Italian insurance company.

THE FIRM This firm continues to handle a range of domestic and international cases and enjoys positive client feedback for the quality and flexibility of its corporate team. Energy, real estate and financial matters have made up the bulk of the group's work in recent months.

Sources say: "The lawyers are extremely helpful and always well prepared."

KEY INDIVIDUALS The "absolutely brilliant" Francesco Stella wins accolades for his standout client attention. "He is really helpful and explains the issues clearly," enthuses one source. Luca Picone often assists international financial institutions in both public and private M&A transactions. Sources appreciate his flexibility and calm manner during difficult situations. The talented Paolo Ricci is active in M&A and life sciences. Focusing on the insurance industry, he often advises clients from around Europe and the USA.

Since publication, Paolo Ricci has joined Studio Legale Tributario Ernst & Young

THE FIRM Jones Day offers a highly integrated corporate practice that benefits from the firm's work in other disciplines, as well as the global Jones Day network. Specialising in M&A and private equity, the group remains focused on the energy sector and recently advised Acta on the applications and authorisations from Sun Global Service for the setting up of photovoltaic plants.

KEY INDIVIDUALS M&A head Bruno Castellini's expansive practice covers corporate, capital markets, private equity and energy. Stefano Crosio leads the firm's private equity group and assists clients from a wide range of industries.

THE FIRM This long-established firm regularly represents leading Italian and multinational companies. A notable highlight saw the group advise the Paris public transport authority on its negotiations with Veolia and Caisse des Dépôts on the sale of a stake in Transdev.

KEY INDIVIDUALS Luigi Macchi di Cellere is the corporate head and has acted on a number of the team's key deals.

THE FIRM This firm has been extremely active over the past twelve months, notably in the renewable energies sector. The team benefits from the firm's network and has considerable cross-border strength, particularly in Italo-German transactions.

KEY INDIVIDUALS Carsten Steinhauer "expertly combines German and Italian legal knowledge," enthuses one happy client. He has particular expertise in energy transactions and clients include Solar Total, Q-Cells and Deutsche Solargesellschaft.

THE FIRM A solid mid-market player, Norton Rose acts for some impressive clients, including BNP Paribas, France Telecom and ENI. Clients value the team's international credentials and full-service corporate expertise.

Sources say: "Fast in acting on our needs."

KEY INDIVIDUALS Head of the Italian office of this international firm, Paolo Daviddi is the main contact here.

THE FIRM This compact team handles an impressive array of contentious and non-contentious corporate work. It is particularly highlighted for its cross-border M&A transactions. Sources praise the team's superb commercial understanding.

Sources say: "Very good at recognising business needs and relating them to the law."

KEY INDIVIDUALS Bruno Cova receives remarkable client feedback. As one admiring interviewee said: "He is extremely pleasant to work with and excellent in negotiations."  

THE FIRM This dynamic practice is well-known for its expertise in TMT and unsurprisingly handles a number of corporate issues for clients in the IT and media industries. The firm has been building up its team and the lawyers enjoy a strong reputation for their work at both a domestic and global level.

Sources say: "Very practical and responsive. Whatever the problem is, the team will find a way to solve it."

KEY INDIVIDUALS Manuela Cavallo is the first point of contact for corporate-related questions.

THE FIRM This firm has a long-standing focus on corporate and M&A work. It often represents the Italian government and many state-owned entities, as well as industrial players both in Italy and abroad.

KEY INDIVIDUALS The contact for corporate questions is founding partner Alberto Santa Maria.

THE FIRM The Italian branch of this global firm has bolstered its presence in the market after a successful year. Combining local industry knowledge with an international perspective, the team attracts a wide range of clients, including E.ON Climate and Renewables, Maflow and Refresco.

Sources say: "Precise, punctual and with a good sense for business."

KEY INDIVIDUALS Andrea Accornero is the relevant contact here.

THE FIRM With numerous offices throughout Italy, this firm enjoys a notable presence in the domestic market. It also has a strong focus on work within CEE and attracts clients from a variety of industries.

KEY INDIVIDUALS Rome-based Mauro Baldissoni specialises in corporate and finance work and often acts in public and private M&A transactions.