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Top related persons:
Salomon - 1 Andrea Pignataro - 1 UniCredit - 1 Intesa - 1 DK - 1 Lazard - 1 Prelios - 1 Mediobanca - 1
Top related locs:
ION . Dublin Italy
Top related orgs:
Davidson - 1 Capital Management - 1 ION Group - 1 ION . - 1 ION - 1 BNP - 1 Banco - 1 Standard Chartered Bank - 1

Search resuls for: "Riccardo Serrini"


2 mentions found


☆ ION seals acquisition of Italy's Prelios from Davidson Kempner in estimated $1.5 bln deal
  + stars: | 2023-08-11 | by ( Valentina Za Pablo Mayo Cerqueiro | Valentina Za | Pablo Mayo Cerqueiro | ) www.reuters.com   time to read: +2 min
LONDON, Aug 11 (Reuters) - U.S. hedge fund Davidson Kempner Capital Management (DK) said on Friday it had agreed to sell Prelios to fintech firm ION Group, in a long-awaited deal which two sources said valued the Italian credit manager at 1.35 billion euros ($1.5 billion). DK, which did not disclose the sale price, had been looking for a buyer for years, and held discussions for several months with ION. Dublin-based ION Group was in turn in talks with banks for months to secure funding for the deal. Founded by former Salomon Brothers trader Andrea Pignataro, ION Group provides services of trading, analytics, treasury and risk management for capital and commodity markets. In 2021 in Italy alone, ION bought banking software provider Cedacri for $1.8 billion and acquired Cerved in a deal that valued the credit data and management group at nearly 2 billion euros.
Persons: Salomon, Andrea Pignataro, UniCredit, Intesa, DK, Lazard, Prelios, Mediobanca, Goldman Sachs, Morgan Stanley, Riccardo Serrini, Valentina Za, Pablo Mayo, David Goodman, Susan Fenton Organizations: Davidson, Capital Management, ION Group, ION ., ION, Reuters, BNP, Banco, Standard Chartered Bank, Mediobanca, UBS, X3, DK, Thomson Locations: ION . Dublin, Italy
☆ ION discussing earn-out price clause with DK in Prelios deal-sources
  + stars: | 2022-11-23 | by ( Valentina Za | ) www.reuters.com   time to read: +2 min
The two sources close to the matter said ION and DK were discussing a so-called earn out clause, which would see ION pay part of the price at closing and the rest once the business hits certain financial targets. ION and DK declined to comment. Sources had told Reuters earlier this month ION was in discussions with DK over a potential acquisition of Prelios, on which the New York-based fund has put a 1.4 billion euro ($1.44 billion) price tag. Shortly before that, ION had snatched for 1.5 billion euros Italian banking software firm Cedacri. U.S. fund DK first invested in Prelios in 2017, buying other investors to take it private.
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