Banco BPM Backs EG Italia Acquisition with €425M Financing

Banco BPM has finalized a €425 million financing deal to support the acquisition of 100% of EG Italia. This move strengthens Banco BPM's position as a key financial partner in industrial consolidation processes.

Key Players in the Deal

The deal involves a pool of industrial investors led by PAD Multienergy, Vega Carburanti, Toil, Dilella Invest, and Giap.

Vega Carburanti's Role

Vega Carburanti received €129.8 million in financing as part of the overall deal. Banco BPM coordinated the pool of financing banks, acting as Global Coordinator, Banca Agente, Mandated Lead Arranger, Bookrunner, and Underwriter.

EG Italia Acquisition Details

The acquisition targets one of Italy's primary operators in fuel distribution and mobility services, boasting a network of approximately 1,300 Esso-branded service stations nationwide. The Enterprise Value of the acquisition is set at €425 million, subject to standard price adjustment mechanisms.

The goal is to consolidate five entrepreneurial entities in the sector, generating value through targeted asset reorganization and enhanced operational expertise.

Strategic Objectives

The primary objective is to consolidate five business entities within the sector, aiming to create value through strategic asset reorganization and the enhancement of operational skills.

Banco BPM's Expertise and Local Knowledge

Banco BPM has provided specialist skills and a deep understanding of local contexts, which were deemed essential for the success of such a complex and high-impact industrial operation.

Statements from Banco BPM

"We are particularly pleased to have contributed to the definition of a large industrial operation like this," said Andrea Lo Bianco, Head of the Key Corporate Customer Center within the Corporate Market North-East of Banco BPM, who directly followed the deal. "The project stems from a clear and long-term vision and involves leading industrial partners. As Banco Bpm we are proud to have been alongside Vega, confirming our proximity to the area and the ability to support complex transactions that generate value and continuity for businesses and the communities in which they operate."

Future Plans for EG Italia's Assets

Under the co-investment agreements, the industrial partners will subsequently distribute the points of sale currently held by EG Italia. This distribution aims to strengthen local presence and operational efficiency.

Banco BPM's Strategy

This operation is part of Banco BPM's strategy to support the real economy, with particular attention to initiatives that can guarantee solid industrial prospects and employment continuity. This approach confirms the institution's positioning as a reference bank for companies engaged in growth, transformation, and consolidation paths.

Breakdown of Financing Allocation

Here's a table detailing the allocation of the overall financing:

The Impact on Fuel Distribution

The acquisition is poised to reshape Italy's fuel distribution landscape.

Distribution Network Size

The deal encompasses a significant network of service stations. The following table illustrates the reach of EG Italia:

Geographic Distribution of Service Stations

The service stations are spread across Italy. The geographic distribution ensures comprehensive coverage throughout the national territory.

Regional Presence

The acquired service stations maintain a strong regional presence. The breakdown of their locations by region:

Consolidation Benefits

The consolidation of these five entrepreneurial entities is expected to yield multiple benefits.

Expected Benefits

Key advantages resulting from the merger:

The Future of EG Italia

The industrial partners will redistribute the sales points currently under EG Italia, with a focus on boosting local presence and operational efficiency.

Key Roles of Banco BPM

Banco BPM played pivotal roles in coordinating the financial aspects of this major acquisition.

Financial Coordination Roles

Banco BPM's key roles included:

• Global Coordinator
• Banca Agente
• Mandated Lead Arranger
• Bookrunner
• Underwriter

The Big Picture

This acquisition highlights Banco BPM's commitment to supporting the Italian economy. By facilitating such significant deals, Banco BPM is playing a crucial role in fostering industrial growth and stability.

Banco BPM's Role in Supporting Growth

Banco BPM's involvement underscores its dedication to fostering industrial growth and stability, demonstrating a keen focus on Italy's economic advancement through strategic financial support.