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09:30
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09:35Keynote: What lies ahead for Italy? An overview of financial markets prospect for 2021 (in Italian)
The keynote speech will cover the current economic environment in Italy, commenting on the industrial and financial market outlook for the country.
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09:45Panel: Italian M&A outlook
The Italian market has slowed down in the past months due to the impact of the coronavirus outbreak, with an uptick in activity possible only from the end of the year. Following a subdued 2019, Italian M&A had a strong start to 2020 prior to the coronavirus outbreak.
Panellists will address the difficulty of completing M&A deals during COVID-19 and how to get a deal over the line in the year ahead.
- What are the perspectives and current trends in investments and what is the market sentiment for next year?
- Lower valuations will attract international investors?
- Will shareholder activists be triggered by lower valuations?
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10:30
Networking break
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10:45Panel: FDI (Foreign direct investments) rules to increase red tape (in Italian)
New “golden power” measures have been introduced by the Italian government in response to the coronavirus pandemic and are set to burden potential investors with increased paperwork. The new “golden power” measures are aimed at shielding strategic companies from becoming cheap takeover targets due to the drop in valuations triggered by the COVID-19 outbreak. What will the effect be on dealmaking? This session will analyse the consequences and benefits of the new FDI rules in Italy.
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11:15Panel: Fireside chat on Pharmaceutical
While the pandemic drastically impacted the automotive, retail and fashion sectors in Q1 2020, companies in the logistics, food and pharmaceutical industries have fared quite well. On stage, two experts will discuss in depth the current and future deal activity of the pharma sector, taking in consideration Genetic, an Italian pharma business, specialising in asthma medicines and ophthalmic treatments.
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11:45
Networking break
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12:00Panel: PE deal activity
Italian private equity buyout has overall dropped the first half of 2020 with value totalling EUR 3.8bn in 32 deals, posing the lowest YTD value since 2015 (EUR 3.7bn, 38 deals). With a solid Q1 for PE exits, Q2 has shown significant decreases by 87.1% in value. This session will explore the opportunities and challenges LPs and GPs are facing in this unprecedented time.
- What type of deals is Private Equity considering?
- Where PE managers will put their undeployed capital next?
- Would PEs be more involved in delisting going forward?
- Considering the current climate in the country, what are real challenges for GPs?
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12:45
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Alessandra leads the editorial teams of Mergermarket, Dealreporter and Activistmonitor for public markets coverage across EMEA. Based in London, Alessandra is also focusing in identifying new content sets within the public markets. She has over 15 years of experience in financial journalism having covered large scale of M&A deals.
Alessandra joined Acuris in 2004 as a research analyst. Since then she has worked on both Mergermarket and Dealreporter editorial teams, first as Head of Italian coverage, then Deputy Editor and Editor of Dealreporter. Alessandra previously worked as a training lawyer for a Milan-based law firm.
She holds a degree in law from the Catholic University of Milan.
Raffaele Jerusalmi has been working for Borsa Italiana since 1998 and became the CEO on the 1st April 2010.
Since 2007 he is a member of the Executive Committee of the London Stock Exchange Group (LSEG), where he holds the position of Group’s Director of Capital Markets, and since 2010 he is a Board member of the LSEG.
In addition he also holds a number of other internal senior positions within the Group including Chairman of Elite S.p.A. and Vice Chairmanship of Monte Titoli, MTS and CC&G.
Prior to joining Borsa Italiana, he was Head of Trading for Italian Fixed Income at Credit Suisse First Boston. Raffaele was also a member of Credit Suisse’s proprietary trading group in London as well as representing Credit Suisse First Boston on the Board of MTS S.p.A.. Prior to joining Credit Suisse, he was Head of Trading for the fixed income and derivatives divisions at Cimo S.p.A. in Milan.
In 1998 Raffaele graduated in Economic and Social Disciplines at Bocconi University.
On 2 June 2019 he was appointed “Cavaliere Ordine al Merito della Repubblica Italiana”, the first rank knighthood of the Italian Republic.
Emanuela Pettenò, Partner PwC Italy, Consumer & Markets Deals Leader
Emanuela joined PwC Transaction Services in 2001 and is partner since 2010.
Emanuela dedicates most of her time to private equity houses and has led numerous buy-side and sell-side engagements for pan-European and Italian private equity houses, covering various industry segments. Since 2015 Emanuela is responsible for the Italian Consumer team and since 2018 is PwC Italy Markets Deals Leader.
Prior to joining PwC, Emanuela spent 5 years working in a primary audit firm. Emanuela graduated in Economics from the Ca’ Foscari University of Venice and is an Italian Chartered Auditor.
18 years of experience as a financial professional, joined Bluebell Capital Partners at inception from Bluebell Partners.
Before joining Bluebell Partners in 2016, David worked for 10 years with investment banks Lehman Brothers and Nomura in London. Prior to that, David worked for four years as an equity research analyst at Intermonte in Milan.
David has worked on several transactions in Europe, including M&A, debt restructurings, LBO financings, high yield financings and IPOs. His focus was mostly on private equity firms and in the media sector.
David holds a university degree in Economics from Bocconi University in Milan and an MBA from NYU Stern School of Business
27 years of experience – 23 of which in banking, with 18 years in M&A
Joined the Intesa Sanpaolo group in 2013 as Global Head of Consumer. Currently Head of Mergers & Acquisitions in Banca IMI
Previous Investment Banking experiences at Citibank, Société Générale, JPMorgan and UniCredit (where he spent 11 years and had responsibilities as Head of Financial Sponsors Coverage, Head of Mid-Market Investment Banking and Head of Consumer CEE)
Sat in a few Investment Committees of Italian mid-cap PE funds
Chartered Accountant and Certified Auditor
Masters in Finance from London Business School
Served as a Navy Officer in the Italian Navy
Mauro is a Partner and the Chief Investment Officer at Ambienta and is based in Milan. He is among the promoters of Ambienta and joined the firm in 2008.At Ambienta he has been involved in a number of transactions including Lakesight Technologies, IPC, Nactarome Group, Pibiplast, Caprari, Tower Light, Envirogen, AICO and Energy Wave.
Prior to Ambienta, Mauro spent seven years in SG Capital Europe, a pan-European mid market buyout fund and five years at Groupe Zodiac.
Mauro sits in the Board of AIFI and is Member of the Mid-Market Council at Invest Europe.
Mauro holds a degree in Business Administration from Verona University and an MBA from SDA Bocconi School of Management.
He speaks Italian (native), English (fluent) and French (fluent).
Head of M&A Department of the Firm, Massimiliano represents clients in matters of private and public M&A with a focus on private equity, strategic investments and joint ventures. His experience M&A experience spans various industries, including the real estate and hospitality, insurance, mechanical and food & beverage sectors. He is also often involved as advisor with respect to complex multi-jurisdiction litigation cases. He joined the Firm in 1998 and became a Partner in 2010. He was a Foreign Associate with Skadden, Arps, Slate, Meagher & Flom, LLP in New York and previously a visiting foreign lawyer with Gide Loyrette Nouel, Association d'Avocats in Paris.
Alessandra leads the editorial teams of Mergermarket, Dealreporter and Activistmonitor for public markets coverage across EMEA. Based in London, Alessandra is also focusing in identifying new content sets within the public markets. She has over 15 years of experience in financial journalism having covered large scale of M&A deals.
Alessandra joined Acuris in 2004 as a research analyst. Since then she has worked on both Mergermarket and Dealreporter editorial teams, first as Head of Italian coverage, then Deputy Editor and Editor of Dealreporter. Alessandra previously worked as a training lawyer for a Milan-based law firm.
She holds a degree in law from the Catholic University of Milan.
Secretary General of the Presidency of the Council of Ministers since June 2018. Secretary General of the Autorità Garante della Concorrenza e del Mercato since December 2011. Judge at the Supreme Administrative Court (Consiglio di Stato) since February 2000 and President of a Section of the Supreme Administrative Court since February 2017. Previous positions: Judge at the First Instance Administrative Court (TAR Lombardia) (1998-2000); Judge at the Court of Auditors (1997-1998); Ordinary Judge (1991-1997).
Lecturer for university and post-graduate courses on administrative law and antitrust law; co-editor of specialized legal journals, author of more than 50 publications in the administrative law sector, including R. Chieppa, Studi di diritto amministrativo (Studies on administrative law); R. Chieppa – R. Giovagnoli, Manuale di diritto amministrativo (Guide to administrative law); R. Chieppa, Codice amministrativo commentato (Annotated administrative code), R. Chieppa, Il Codice del processo amministrativo – Commento a tutte le novità del giudizio amministrativo (The Administrative process code – Commentary on all new aspects of administrative proceeding); R. Chieppa, Il processo amministrativo dopo il correttivo al Codice (The administrative process after the amendment of the Code), Milan, January 2012.
Previously, appointed by the Ministry of Regional Affairs as a member of the Committee for implementing the special Statute of the Valle d’Aosta Region and as an expert on issues concerning the liberalization of public services and the reform of the local administration. Member of the simplification and regulatory reform Committee, established at the Presidency of the Council of Ministers.
Collaboration with the “PHARE Twinning Project on competition”, financed by the European Commission to address Romania's entry into the European Union, teaching antitrust law in Bucharest.
Author of the several publications on administrative law and of independent administrative Authorities.
Speaker on antitrust and administrative law issues at several conferences.
Born May 20, 1953, Milan. Graduated in Law from the University of Milan. Journalist since 1975. He has been executive editor of Corriere della Sera twice, between 1997 and 2003 and between 2009 and 2015. Between 2005 and 2009 he has been executive editor of Sole 24 Ore. He has been editor of La Stampa. Between 2003 and 2004 he has been Ceo of Rcs Libri and Chairman of Flammarion and Casterman. Moreover, he has been vice-chairman of Aie, the Italian association of publishers, and board member of Adelphi, Skira and Marsiglio. Independent board member of Ras, Chairman of Teatro Franco Parenti Foundation and board member of association of friends of Poldi Pezzoli. Actually, he is chairman of Vidas and Longanesi publishing house, board member of Bambin Gesù. He writes for Corriere del Ticino.
Giulio Napolitano, Chiomenti Partner, advises Italian and international clients on Italian and European administrative law. His practice focuses on laws regulating state invested companies, privatisation transactions, golden power regulation, tender procedures for the award of contracts and concessions of public services, regulatory matters in the communication and energy sectors, renewable energy incentives, financial market supervision, competition and consumer protection and sports law.
He is one of the twenty members of the International Council of Arbitration for Sport (for the period 2018-2022), which is the governing body for international sports arbitration. He is member of the Committee of Experts and Market Operators of the Italian Financial Supervision Authority, Consob (2019-2021). He was a legal advisor to the Presidency of the Council of Ministers from 2006 to 2008 and Chairman of the Supervisory Board on equal access to the Telecom Italia network from 2009 to 2012.
https://www.chiomenti.net/en/professionals/giulio-napolitano
Alessandra Gavirati is co-founder of a new biotech investment vehicle.
Prior to that, she was CEO of Life Care Capital, a €143m SPAC focussed on investments in life science.
Between 2012 and 2017 Alessandra was Partner at Synergo, where she was in charge of the divestment activity of IPEF IV, a €550 million PE fund raised among international institutional investors.
Between 2000 and 2012 she was Partner at BS Private Equity, where she focussed on MBOs and served as Operating Partner, oriented to performance improvement and external growth of investee companies.
In the earlier part of her career, Alessandra worked at SO.PA.F., initially as Junior Controller and lately as Investment Manager of the private equity division.
Alessandra Gavirati holds a degree in Economics from Bocconi University of Milan.
Giorgio is Senior Managing Director at CVC and is based in Milan. Prior to joining CVC in 2005, he worked for over four years in the Mergers and Acquisitions team at Morgan Stanley. He is a member of the Board of Directors of DOC Generici, Sisal, Conceria Pasubio and Lecta. Giorgio holds an MSc in Nuclear Engineering from the Politecnico di Milano and an MSc in Industrial Engineering from the École Centrale de Paris.
Mintoi has covered the healthcare sector for over 13 years and is healthcare editor at ACURIS. She covers pharma, biotech and medtech and has a range of experience leading on live situations, origination and market analysis.
Pier Paolo is based in the Milan office and has joined PwC Italy in February 2016. Appointed Head of M&A in February 2017
Pier Paolo has 19 years of investment banking experience within both international and Italian institutions: he started his career with Lehman Brothers in London in 2001 and then moved to MCC–CapitaliaGroup in Rome, before spending 8 years with Morgan Stanley in Milan across products and sectors with a focus on M&A/Equity capital markets. He acted as team leader and point person on highly complex processes such as disposals, competitive auctions with financial sponsors, cross borderM&A, and Initial Public Offerings. Pier Paolo graduated in Economics and social Sciences from Bocconi University of Milan.
Edoardo Lanzavecchia is Managing Partner at Alpha, a pan European mid-cap private equity firm.
Prior to Alpha, he was Founding Partner of Magenta, an Italian mid-cap private equity firm.
Between 1998 and 2005 he founded and was head of The Carlyle Group Italy. He was member of the Investment Committee of Carlyle Europe Partners I and II.
Prior to Carlyle, he was a Partner at SO.PA.F., where he managed the firm’s direct private equity investments as well as its private equity partnership.
In 1991, he was a strategic consultant with the Mac Group, and in the earlier part of his career worked at ABB in the Energy Division and as a researcher in the Plasma Physics Laboratory at the Centro Nazionale Ricerche.
Edoardo Lanzavecchia holds a Master of Science in Nuclear Engineering from the Politecnico di Milano and an MBA from Bocconi University in Milan.
Massimiliano Caraffa is a Private Equity professional with 17 years’ work experience in Private Equity and Management Consulting matured in top-tier global companies.
Mr Caraffa is a Director of Carlyle European Buyout team based in Milan, and is responsible for deal origination, execution, portfolio management and realizations in the Consumer & Retail sector across Europe.
Mr Caraffa is actively involved in Carlyle’s current investments in Design Holding (Furniture/Design); Golden Goose (Fashion/ retail); Hunkemoller (Fashion/Retail); Twinset Milano (Fashion/Retail); Comdata (Business Services), Irca (Industrial food) and Marelli Motori (Industrial), in each of those he is also a member of the Board of Directors. Moreover, Mr. Caraffa e has been involved in Moncler (Fashion/Retail) and Sematic (Industrial) where he served on the Board of Directors respectively from 2008 to 2011 and from 2015 to 2016 and participated in the portfolio management and exit of Avio spa (Aerospace and Defense).
Prior to joining Carlyle in 2004, Mr. Caraffa was a Business Analyst and Associate with McKinsey & Company in Milan for three years where he focused on telecom and financial services.
Mr. Caraffa received a MSc in Electronic and Telecommunications Engineering magna cum laude from the University of Genoa and received an M.B.A. from INSEAD. He speaks Italian, English and Spanish.
Matteo joined Intesa Sanpaolo CIB as Head of Financial Sponsor Group for the Italian market in April 2017, with a coverage responsibility across multi products/services within the IB division
Before he was Head of Mergers & Acquisitions in Italy at Société Générale CIB where he advised, in a decade, both corporate and financial sponsors clients across different sectors
Matteo has started his investment banking career more than 17 years ago, developing professional experience primarily in M&A, ECM and Leverage & Acquisition financing areas
Matteo obtained a degree in Business Administration at Luigi Bocconi University and a master in finance within the Grow Programme at Insead
Giovanni is Managing Director of goetzpartners’ Italian office, based in Milan.
As a strategy advisor with more than 26 years of experience in management consulting, Giovanni addresses issues such as corporate strategy development, business due diligence, post-acquisition support, digital transformation, market entry strategy, commercial excellence, customer value management, pricing, product innovation.
In the M&A sector he partners with the most prominent private equity houses and financial investors helping them to make the right investment decisions and enhance value creation.
Prior to goetzpartners, he worked in EY as Head of Commercial Advisory Services and in L.E.K. Consulting as Partner and Managing Director of the Italian office.
Barbara is a reporter at Mergermarket, where she covers consumer, retail and leisure in EMEA. She previously worked for one of Italy’s main financial newspapers and as corporate and financial communications consultant. Barbara has an MA in International Relations and Diplomatic Affairs from the University of Bologna.
Alessandra leads the editorial teams of Mergermarket, Dealreporter and Activistmonitor for public markets coverage across EMEA. Based in London, Alessandra is also focusing in identifying new content sets within the public markets. She has over 15 years of experience in financial journalism having covered large scale of M&A deals.
Alessandra joined Acuris in 2004 as a research analyst. Since then she has worked on both Mergermarket and Dealreporter editorial teams, first as Head of Italian coverage, then Deputy Editor and Editor of Dealreporter. Alessandra previously worked as a training lawyer for a Milan-based law firm.
She holds a degree in law from the Catholic University of Milan.