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London, April 24, 2024 - International law firm Gianni & Origoni, won "Deal of the Year - M&A: Avolta/Autogrill" at the 2024 IFLR Europe Awards organized by the international magazine IFLR - International Financial Law Review.
The deal is described by the jury as “a strategic triumph amid a sea of regulatory constraints. With the target facing mandatory regulatory hurdles, an alternative cash component was pivotal. Market reception to the deal was positive, and shareholders overwhelmingly opted for the cash alternative, propping up market confidence. The deal represents the first exchange offer in Italy in which shares of a non-EU listed company were offered as consideration. It marks the first time an Italy-listed issuer engaged in such a technical exchange and ultimately sets a precedent in the EU market. The transaction's complexity and the use of mandatory convertible notes showcased innovative structuring, reduced interloper risk and enhanced deal certainty. This groundbreaking deal paves the way for future cross-border M&A endeavours.”
The IFLR Awards recognise, for each European country, the firm that has the best track record of the year and that has distinguished itself for its involvement in the most innovative international deals.
It is not the first time the firm has been successful at the IFLR Awards. It collected various accolades in the past among which: "Deal of the Year - M&A: Euronext/Borsa Italiana" (2022), "Corporate Firm of the Year for Italy" (2021); "Most Innovative Law Firm of the Year" (2019); "Law Firm of the Year" (in 2004, 2006, 2010 and 2011), as well as for advisor to single deals (in 2016 when it won "Loan Deal of the Year" for the Chem China/Pirelli transaction as well as "Structured Finance and Securitisation Deal of the Year" for the KKR/Unicredit/Intesa Sanpaolo NPL platform).
