Services

Professional Services

Valuation

Our technical skills for evaluative assistance in support of complex and non recurring transactions, impairment testing, MIP instruments and appraisals required by law.

Valuations & Opinions

Valuations, Fairness Opinions and Independent Appraisals to Boards and Shareholders in mergers, acquisitions, sales and other complex and/or non recurring transactions (sale of business units, capital increases, spin-offs, etc.).
Specific assets valuations (brand, etc.).

Other assignements

May 2021

Appraisal of the value of the brands of Italfarmaco

April 2021

Appraisal of the value of the brand of Mondo Convenienza

March 2021

Valuation of the equity capital of SPORTSWEAR S.P.A in the context of the capital increase of Moncler

January 2021

Valuation opinion of a business unit of Sirap in the context of its contribution in kind to Faerch

October 2020

Independent advisor of Risk and Control committee of Recordati in the context of the reverse merger of Rossini Investimenti and Fimei in Recordati

September 2020

Appraisal of the value of a business unit of PostePay in the context of its disposal

July 2020

Opinion on the value of the shares of BIM for the purpose of the capital increase

May 2020

Fairness Opinion on the adequacy of the transactional proposal for the settlement of the dispute between Cdp and Fondazione Cariverona

May 2020

Appraisal of a business unit of Consorzio Logistica Pacchi S.c.p.A. sold to Poste Italiane

April 2020

Opinion on the value of the capital of Treccani for the purpose of the capital increase

April 2020

Opinion to the Related Parties Committee of Tesmec as part of an acquisition transaction

February 2020

Appraisal of the economic value of Mondo Convenienza in the context of a reorganisation operation

November 2019

Opinion on the value of shares of Salini Impregilo in the context of the capital increase without option

October 2019

Opinion on the value of shares of Bonifiche Ferraresi in the context of the capital increase without option

September 2019

Appraisal of the value of a business unit of Poste Vita in the context of its disposal

June 2019

Appraisal of the economic value of register.it in the context of a reorganisation operation

April 2019

Appraisal of the value of the brand of La Piadineria a portfolio company of Permira

November 2018

Fairness opinion for Bracco as part of the sale among “related parties” of a participation in Humanitas

Impairment Test

Assistance in impairment test
Valuation of Assets and Liabilities for accounting purposes

Management Incentive Plan Valuations

Carried interest
Stock option plans
Warrants
Participative financial instruments

Debt Sustainability

Voluntary and/or statutory debt sustainability opinions (2501-bis c.c.).

Opinions required by law

Exchange ratio fairness (2501-sexies c.c.)
Withdrawal value (2437 et seq., 2473 and 2535 c.c.)
Contributions in kind (2343, 2343-ter and 2465 c.c.)
Issue price for share capital increases (2441 c.c.)

Other assignements

April 2021

Opinion on debt sustainability of Team System in the context of an LBO operation

April 2021

Impairment test of the goodwill of La Piadineria a portfolio company of Permira

April 2021

Impairment test nel bilancio consolidato redatto da Poste Italiane

March 2021

Estimate of the NAV and impairment test for the consolidated financial statements of Italmobiliare Investment Holding

June 2020

Valuation of the fair value of a financial instrument attributed to the management of Golden Goose

June 2020

Estimate of impairment of the participation in Slayer in the 2019 annual report of

December 2019

Opinion on debt sustainability of Nexi in the context of the acquisition of the business acquiring by Intesa Sanpaolo

September 2019

Opinion on debt sustainability of INWIT in the context of the combination with the Tower business of Vodafone

July 2019

Valuation of the fair value of a financial instrument attributed to the management of OVS

May 2019

Valuation ex-art. 2465 c.c. of the three business units of some companies belonging to Gruppo Italcementi

April 2019

Impairment test of the goodwill of La Piadineria a portfolio company of Permira

February 2019

Valuation as of 31.12.2018 of the warrants issued by Mercury UK HoldCo in relation to Nexi

Jenuary 2019

Valuation of the withdrawal value of the shareholding held by a shareholder of GateGourmet

September 2018

Opinion on the debt sustainability ex- art. 2501-bis of La Piadineria a portfolio company of Permira

September 2018

Opinion on debt sustainability ex- art. 2501-bis of Caffè Borbone a portfolio company of Italmobiliare Investment holding

June 2018

Appraisal of the fair value of the equity instrument issued by Coima Res

June 2018

Fairness opinion on the value of the B units issued by Ardiani Real Estate European Fund

April 2018

Impairment test of the participation in Donghia held by Rubelli