Cappelli RCCD assisted Poste Italiane in the signing of a sale and purchase agreement for the acquisition, through its subsidiary PostePay, of 100% of the share capital of LIS Holding and, indirectly, of the Istituto di Moneta Elettronica LIS Pay, which are historic companies of the IGT Lottery Group headed by De Agostini. The total consideration of the transaction amounted to EUR 700 million.
The acquisition of the two targets, which operate, inter alia, on the collection and payment services market, is strategically important for the Poste Group, since it will consolidate PostePay’s growth also on the proximity payments market and strengthen the acquiring services and products offered to small and medium-sized enterprises.
Completion of the acquisition is subject to a series of conditions precedent, including obtaining authorisation from the competent authorities (e.g. the Bank of Italy and the Italian Competition Authority).
Cappelli RCCD acted with a team led by name partner Roberto Cappelli and comprising partner Nicola Caielli, senior associate Giulia Martino and associate Alberta Berruti, as well as partner Gabriele Buratti for the regulatory issues.
With respect to antitrust aspects, the purchaser was also assisted by Greenberg Traurig Santa Maria Studio Legale, with a team comprising partner Edoardo Gambaro, senior associate Pietro Missanelli and trainee Martino Basilisco.