Paul Hastings Represents Exor in the Sale of Alpitour
Milan, Italy -- Paul Hastings LLP, a leading global law firm, announced today that the firm represented Exor, the investment company of the Agnelli family, and mainshareholder of Fiat, Chrysler, Ferrari, CNH and other companies, in the sale of Alpitour, the leading travel operator in Italy.
The value of the transaction, one of the largest M&A transactions in Italy during 2011, is €225 million and the seller has a right to receive an earn-out if certain conditions will be met. The buyer is a vehicle owned by a group of private equity funds and other investors. Exor will have a 10 per cent participation in the acquisition vehicle. Closing is expected in April 2012.