International law firm Ashurst has advised WRM Group on the investment of approximately €40 million and the filing of a debt restructuring agreement, pursuant to article 182-bis of the Italian bankruptcy law, aimed at providing the Kipre Group with the necessary resources to emerge from Covid-19 and to support its recovery and development.
With the approval of the agreement, WRM Group will acquire 100% of the Kipre Group through the Athena capital fund. This transaction is another key step in the expansion strategy of the WRM Group in Italy, which aims to support Made in Italy companies and invest in the relaunch of excellent Italian products.
The new management of the Kipre Group, with over 300 employees within it, will be entrusted to a team of managers with solid experience in the sector, led by Walter Bellantonio, former General Manager of ISA S.p.A. and former CEO of Cirio, Del Monte Italia and Centrale del Latte in Rome.
21 credit institutions and over 500 strategic and non-strategic suppliers participated in the restructuring agreement.
Ashurst advised WRM in relation to the negotiation and drafting of the restructuring agreement, with a team led by partner Paolo Manganelli supported by senior associate Mario Orsenigo and associate Anna Giulia Chiarugi.
