Lawyer Monthly - January 2022 Edition

The Combination Between IVS and Liomatic IVS Group, a company listed on the STAR segment of the Italian stock exchange and active in the snack and drink distribution sector, has signed a business combination agreement with Cafim, head of the Caporali family and controlling shareholder of the Liomatic group, which operates in the same sector. The transaction will have an initial total enterprise value of approximately €154 million euros, excluding properties and minority shareholdings held by Liomatic (valued at approximately €52 million). The business combination agreement is structured such that Cafim will reinvest approximately 70% of the payment due in IVS by subscribing to a reserved capital increase in IVS Partecipazioni (controlling shareholder of IVS Group), becoming one of its main shareholders. IVS Group will carry out a capital increase offered to the market, which will be subscribed pro-quota by IVS Partecipazioni. The transaction is expected to be closed at the beginning of 2022. The Caporali family is assisted by ADR Law firm, particularly by lawyers Andrea Netti and Eleonora Netti. IVS Group is assisted by TALEA Tax Legal Advisory and Latham & Watkins. 87 WWW.LAWYER-MONTHLY.COM JAN 2022 ABOUT THE DEAL