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GLG & Partners assisted Nova Re SIIQ S.p.A. in the voluntary and partial public tender offer promoted by Nova Re SIIQ on no. 239,256 treasury shares, equal to 2.3% of its share capital.
The GLG team was led by the partners Giampaolo Grasso and Simone Gerardi, with the support of the associates Donatella Naselli and Mario Distasi.
The takeover bid, which benefited from the exemption from publication of the offer document, took place during the period 17 September – 5 October 2018 and registered subscriptions exceeding 196% of the maximum quantity of shares subject to the offer, with consequent application of the split according to the proportional method and rounding up. The treasury shares acquired were aimed at assigning bonus shares to the subscribers of the capital increase approved by the Board of Directors of Nova Re SIIQ S.p.A. on 8 May 2017, who maintained the new shares subscribed until 24 August 2018 (i.e. for the 12 months following the subscription date) without interruption.
Mediobanca S.p.A., with a team led by Salvatore Guardino with the support of Enrico Baraldini and Nicolò Bottaro, acted as an intermediary in charge of collecting accessions, while SPAFID S.p.A., with a team led by Maurizio Ondei, acted as intermediary in charge of the coordination of the collection of adhesions.