Buongiorno - Carve-out of a large majority of its B2B assets to a new company

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Slaughter and May, working as an integrated team with Bonelli Erede Pappalardo, advised Buongiorno S.p.A., a leading multinational mobile phone content provider, on the English law aspects of the carve-out of the large majority of its business-to-business assets into a new company. The new company, which will be independently managed, will be majority controlled by Francisco Partners, a leading technology-focused global private equity firm, with Buongiorno having a 40% stake.

The new company will have approximately 500 employees and over EUR 50 million of revenue and an international presence with operations in Europe, the Americas, India, Australia and Asia, with headquarters in London.

The deal, which was announced on 05 August 2011, has a total value of EUR 110 million.

Bonelli Erede Pappalardo advised on Italian law.

The Bonelli Erede Pappalardo team was led by corporate partner Stefano Micheli.

Gary Eaborn (partner), Philip Bownes (associate)