Synfo.com goes on to reveal that Candover, a leading European private equity house, and Permira, a leading private equity group, will no longer be included in the shareholder structure. The equity will be re-structured to represent the following:
Norberto Ferretti and Group's management: 38.5%
Senior and mezzanine lenders: 53% in exit participation rights
In addition, Norberto Ferretti, Group Management and Mediobanca will hold 100% of the voting rights for the Group.
According to Synfo.com, the Group is hoping that the salvage plan will provide them with the capital strength to retain their market leading status and to help them face the challenges of the next five years. Throughout the transaction, Ferretti was assisted by Rothschild as Financial Advisor, Chiomenti Studio Legale and Linklaters as legal advisors and CBA Studio Legale e Tributario. Ashurst (associated to Ashurst LLP) assisted RBS, while Clifford Chance and Lazard assisted the other financial institutions involved in the role of financial advisors.