CLIENT: Ministry of Finance

TRANSACTION: Capital markets

DATE: July 2016

SECTOR: Transport and other services

 

Mandate: 
Assistance to the Ministry of Economy and Finance (MEF) as an independent valuer for the purpose of estimating the value of the non-controlling shareholding in Enav S.p.A. sold through a public sale offer addressed to the general public and to Italian and foreign institutional investors.

Activities performed:
Preparation of a report estimating the value of 100% of Enav and the non-controlling interest sold by the MEF
Preparation of a fairness opinion in relation to the preliminary price range identified by the MEF
Preparation of a fairness opinion in relation to the final price of the offer identified by the MEF.

Deal value:
Euro 1.8 billion (capitalisation of Enav’s stock exchange at the offer price)

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