Gattai Minoli Agostinelli & Partners assisted Iren Ambiente in the acquisition, while Osborne Clarke assisted Unieco.
Iren Ambiente SpA, wholly owned by Iren SpA, having verified the conditions precedent relating to the authorization from the Ministry of Economic Development and the Competition and Market Authority, has completed the purchase of the Enlarged Environment Division of Unieco SCLCA , whose activities are spread over a territory that includes five Italian regions: Piedmont, Emilia Romagna, Marche, Tuscany and Puglia.
This concludes the tender procedure, which began in October 2019, which concerned all the investments in the Enlarged Environment Division held by Unieco SCLCA, directly or through the holding Unieco Holding Ambiente (UHA), in companies active in the supply chain sectors. waste and municipal waste.
Specifically, the acquisition concerns i) the entire share capital of UHA, the holding through which Unieco holds almost all of the equity investments in the companies of the Environment Division, ii) the entire share capital of Uniproject, a company that manages a plant for the treatment of industrial wastewater, iii) the investment of 19.2% in Unirecuperi (a company also held 80.8% by UHA), a company active in the special waste sector and which also deals with environmental remediation and special construction and iv) 99.99% of the share capital of Picena Depur which operates in the field of industrial and civil waste water purification. The transaction also includes the sale to Iren by Infrastructure Light of the minority stake equal to 27.87% in UCH Holding, a company controlled by UHA with a 64.71% stake, which holds all the investments in the Unieco group in the Tuscan area through the subsidiary STA and mainly operating in the collection and treatment of urban waste.
The consideration paid by Iren Ambiente for the acquisition of all the shareholdings in the Enlarged Environment Division amounted to 121.1 million, of which 90 million referring to the price offered in the tender and 31.1 million by way of adjustment. provisional price.
The law firm Gattai Minoli Agostinelli & Partners acted alongside Iren with a team made up of partner Sebastiano Cassani and associates Enrico Candotti, Matteo Luison and Sarah Sabina Montaldo. A team consisting of partner Silvia D’Alberti and associate Michele Laterza operated for antitrust matters. Counsel Nicola Martegani and associate Clara Balboni followed the legal due diligence.
Osborne Clarke has assisted Unieco since the structuring phase of the competitive sales procedure, in coordination and with the authorization of the Ministry for Economic Development (Mise), with a team led by partner Giovanni Penzo, assisted by Ludovica Venafro, Federica Fischetti and Maurizio Zonca, associate, and Carolina Scolari, trainee.
Involved fees earner: Clara Balboni – Gattai Minoli Agostinelli & Partners; Enrico Candotti – Gattai Minoli Agostinelli & Partners; Silvia D’Alberti – Gattai Minoli Agostinelli & Partners; Michele Laterza – Gattai Minoli Agostinelli & Partners; Matteo Luison – Gattai Minoli Agostinelli & Partners; Nicola Martegani – Gattai Minoli Agostinelli & Partners; Sarah Sabina Montaldo – Gattai Minoli Agostinelli & Partners; Sebastiano Cassani – Gattai Minoli Agostinelli & Partners; Federica Fischetti – Osborne Clarke; Giovanni Penzo – Osborne Clarke; Ludovica Venafro – Osborne Clarke; Maurizio Zonca – Osborne Clarke;