Avvera (Credem Group)’s Acquisition Of 10% Interest In Gruppo Santamaria S.p.A.

Avvocatidiimpresa advised Avvera on the transaction.

Avvera, a new company of Gruppo Credem specialised in mortgages and consumer credit, purchased a shareholding equal to 10% of the share capital of Gruppo Santamaria, financial intermediary mainly active in the Italian region of Sicily and specialised in loans to public and private employees secured by the assignment of one fifth of the salary, where repayment of the loan is made through monthly deductions in payroll of the employees not higher than 1/5 of the salary.

The Investment agreement provides the right of Avvera to step up to 30% of the share capital of Gruppo Santamaria.

Avvera’s purpose is to accelerate the increase of the business volumes set out under the new Business Plan which provides, from 2022 onwards, one billion and a half per year of new mortgages and consumer credits.

Avvera has been assisted by Avvocatidiimpresa, with Alberto Calvi di Coenzo (Picture) and Rosanna Frischetto.

Studio Munzone advised Gruppo Santamaria with a team led by partner Bruno Munzone.

Involved fees earner: Alberto Calvi di Coenzo – Avvocati di Impresa; Rosanna Frischetto – Avvocati di Impresa;

Law Firms: Avvocati di Impresa;

Clients: Avvera S.p.A.;