EQUITA assisted FontanaArte
Nice S.p.A. has finalized the agreement for the acquisition of a 60% stake in FontanaArte S.p.A., a Milan-based company that has made the “history of light and furniture” in Italy and around the world, founded in 1932 by architect Giò Ponti and led by Carlo Guglielmi since 1979, which holds 100 %of the share capital.
For Nice, it is the continuation of its strategic path, initiated in the last three years, of entering complementary sectors for new integrated solutions for the home. According to the agreements reached, Nice paid today for the acquisition of 60% of Fontana Arte´s capital a price of Euro 2,400,000 determined according to the expected Ebitda for 2010, the financial debt as of today´s date as well as the value of the property in which the company resides. As for the remaining 40% of the capital held by Carlo Guglielmi, the agreement provides for put & call options exercisable from 2014 until 2016. The price of these options will also be determined according to the Ebitda of future years, the company´s financial debt at the time of the exercise of the options as well as the value of the property. At the consolidated level, as of December 31, 2009, FontanaArte had balance sheet assets of approximately Euro 16.4 million and shareholders´ equity of approximately Euro 1.9 million and net financial debt of approximately Euro 18.7 million. In the same period, FontanaArte, again at the consolidated level, generated revenues of about euro 21.7 million and Ebitda of about euro 1.7 million. K Finance was the financial advisor to FontanaArte. Eidos Partners was the financial advisor to Nice S.p.A. Studio Alemani e Associati advised FontanaArte on legal matters, while Clifford Chance advised Nice S.p.A.
