Electric Vehicle charging
Our Work

Latham Advises EuroGroup Laminations on Groundbreaking Initial Public Offering

February 8, 2023
Transaction represents the first Italian IPO with an English language prospectus approved by the Italian Securities Commission.

Latham & Watkins has advised EuroGroup Laminations, a world leader in the design, production, and distribution of the “motor core” (stators and rotors) for electric motors and generators, on its initial public offering on Euronext Milan. The landmark transaction represents the first listing in Italy to have an English language prospectus approved by the Italian Securities Commission (CONSOB).

Trading is scheduled to begin on Friday, February 10, 2023, with a market cap equal to €922 million. The offer comprises (i) an offering by the company of newly issued shares resulting from a capital increase and (ii) an offering by the shareholders Euro Management Services S.p.A. (the holding company of the founding families) and the vehicles of Tikehau Capital. The proceeds from the listing will amount to €432 million (including the greenshoe option).

J.P. Morgan SE, BNP Paribas, IMI – Intesa Sanpaolo and UniCredit acted as joint global coordinators and joint bookrunners, Rothschild as financial advisor.

A team of Latham lawyers in Milan led by partner Antonio Coletti and associate Guido Bartolomei, supported on US aspects by partner Ryan Benedict and associate Giorgio Ignazzi, have worked with the Italian Securities Commission since August 2022 to set up a new standard for the prospectus to be used in the Italian market to comply with EU Prospectus Regulation and with disclosure standards required under 10b-5 rule of the US Securities Act.

Advice was also provided on corporate matters by Milan partner Giancarlo D’Ambrosio, with associates Francesca Tanzi Marlotti and Riccardo Perris; on public law matters by Milan counsel Cesare Milani, with associate Edoardo Cassinelli; on UK law matters by London partner Anna Ngo, with associate Koushik Prasad; and on tax matters by London partner Karl Mah and New York partner Jocelyn Noll, with London associate Catherine Hill, Madrid associate Blanca Vazquez de Castro, and New York associate Ted Gkoo.