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CMS for NMS Group in debt restructuring transaction and acquisition by Chinese Hefei SARI V-Capital Management

13/02/2018

NMS Group was assisted by CMS in the definition of the agreement for the restructuring of its debt with certain leading banks and in the process of selling 90% of the company to the Chinese investment fund Hefei Sari V-Capital Management Co., Ltd. The closing of the transaction is expected within the first quarter of 2018, as soon as the necessary authorizations from the Chinese Government are finalized.

CMS Italy, with a team led by Mauro Battistella (Partner), assisted the NMS Group (i) in restructuring the company’s bank debt (over € 200 million) which involved a write off of a significant value and (ii) in the M&A process which would lead to the sale of  90% of the share capital of the holding company NMS Group Srl to the Chinese fund Hefei Sari V-Capital Management Co., Ltd. The debt restructuring would be accompanied by a debt restructuring plan pursuant to article 182-bis of the Italian Bankruptcy Law.

NMS Group is the largest cancer research and drug discovery center in Italy and one of most prominent in Europe. Just consider that in recent weeks Roche bought US-based Ignyta (listed on Nasdaq), licensee of an anticancer drug called Entrectinib, discovered by NMS, for 1.7 billion US dollars.

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Mauro Battistella
Mauro Battistella
Partner
Milan