Bialetti passes to the Chinese: with new capital, two 52 million agreements in all for 78% of the capital

The Luxembourgese new capital, which belongs to the Chinese tycoon Stephen Cheng, has perfected the signing of a Purchase contract for the purchase of 78.567% of Bialetti’s shares. Then the opa will be launched for the subsequent delisting from the Milan stock exchange. A first agreement was reached by Nuch Capital with Bialetti Investimenti and Bialetti Holding for the purchase of 59.002%, for a fee of over 47 million euros (precisely 47,334,000).

Closing in June 2025

A second purchase contract was stipulated between Nuch and Restive Sculptor Investment, for the purchase of about 19.565% for an overall value that exceeds 5 million euros (5,731,000). The sale contracts therefore provide that new octagon, also through another company directly or indirectly controlled and designated by the same as buyer, Purchases from sellers a total participation of 78.567% of Bialetti’s share capital. The closing is scheduled by the end of June 2025. Subsequently it will promote a public purchase of totalitarian purchase on Bialetti’s shares listed on Piazza Affari, with a consideration of not less than 0.467 euros per share. Following the closure of the Opa, the buyer intends to pursue the delisting of the Bialetti actions.

Refinancing of indebtedness

The sale is part of a wider operation linked to the refinancing of the debt of the Bialetti subject to the debt renovation agreement. In particular, it is expected that the refinancing of Bialetti’s existing indebtedness subject to the renovation agreement. There will be junior loan of maximum amount equal to 30 million, Which will be granted by Illimity Bank and AMCO Asset Management Company and senior loan, of a maximum amount of 45 million euros, which will be granted by Banco BPM together with Bper and Banca Ifis. Also provided for equity contributions by new octagon for at least 49.5 million, with a significant reduction in the indebtedness.

Paoli (new): « We invest in Made in Italy »

«Bialetti represents a significant and beautiful challenge for us – comments Tommaso Paoli, CEO of Nuch -, placing ourselves in the face of new growth objectives for a historical brand of Italian culture and tradition. We were born in Milan and Since 2016 we have invested over 400 million euros in private capital in Made in Italyin companies that can now count on new organizational and management models, increasingly open to international markets, maintaining its own independence and identity. We are excited to put the resources and skills necessary for a new phase of Bialetti and our territory at the service of one of the most significant brands of our country « . Currently Bialetti is no price on the stock exchange in Piazza Affari.

Legal assistance

Nurse OcTagon was assisted by Chiomati as legal consultant, Gitti & Partners as tax consultant, EY as Advisor for the aspects of financial, legal and labor law and vital & Co two diligence as Debt Advisor. The FR companies were assisted by Zulli Tabanelli and associated as a financial advisor. Bialetti was assisted by Lazard srl as financial advisor and by Bonellierede as legal consultant. Sculptor and Moka Bean were assisted by Linklaters as legal consultant. Ilimity and AMCO have been assisted, respectively, by Orsingher Ortu Associati lawyers and Giovanardi Law Firm.