Italy’s distressed assets and NPEs weekly round-up. News from Pro-Gest, Carlyle, JPMorgan, Zerbinati, illimity, Gruppo Mastrotto, Intrum, and more – BeBeez International
Summary
Domenico Livio Trombone (chairman) and Massimo Lucchini resigned as independent directors of Pro-Gest, a troubled Italian paper producer for which Angelo Rodolfi acts as CRO (see here a previous post by ). Rodolfi is negotiating for avoding the enforcement of the pledge on the shares of parent company Zago Holding by the largest creditor Carlyle. Chiara Mastrotto is the chairwoman of Gruppo Mastrotto which has sales of 306.9 million euros, an ebitda of 34.6 million and net cash of 47.7 million.Stockolm-listed NPEs investor Intrum AB is mulling for carrying on a Prepackaged Chapter 11 Solecitation for restructuring a debt worth in the region of 4.4 billion euros through a conversion in equity and maturities extensions (see here a previous post by ). Intrum Italy, a joint venture of which the Swedish firm has a 51% and Intesa SanPaolo a 49%, is handling 38.2 billion euros of NPEs as special servicer.Southern Italian minor football club Taranto calcio attracted the interest of a Apex Capital Global that signed a preliminary agreement for acquiring the team (see here a previous post by ). Taranto calcio previously belonged to Massimo Giove (91%), Associazione di Promozione Sociale Taras 706 aC (7%) and other minority shareholders.