Hogan Lovells advises Apeiron and Apollo in the purchase of a portfolio of claims from Grandi Lavori Fincosit S.p.A.

Milan, 20 July - International law firm Hogan Lovells has advised Apeiron Management S.p.A. and Apollo Global Management, Inc. in the purchase of a portfolio of claims owned by Grandi Lavori Fincosit S.p.A. for a value of over 1.3 billion euros.

The transaction was carried out in accordance with Italian Securitisation Law [Law 130/99] through the vehicle, Armonia SPV S.r.l., as purchaser of the claims and in the context of the composition with creditors [concordato preventivo]. The deal was funded by asset-backed notes issued in a single class, by Armonia SPV S.r.l., in order to finance the purchase, and was fully subscribed by investment funds run by Apollo Global Management, Inc.

The cross practice team from Hogan Lovells was led by Counsel Pierantonio Musso, with support from partners Antonio Di Pasquale, Ernesto Apuzzo and by lawyers Giulia Vettori, Giordano Tomasini and Federico Pappalettera. Partner Federico Del Monte, counsel Giulia Arenaccio, and lawyers Alessandro Azzolini, Diego Guardì and Giulia Paparella helped on the securitisation aspects of the transaction.

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