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Club del Sole: towards a capital increase and a new financial partner 

By Friday, 19 April 2024 16:42

Both a capital increase and a new financial partner are in sight for Club del Sole. 

A reinvestment in Club del Sole by NB Aurora and partners

NB Aurora, which acquired 40% of the open-air Club del Sole group in 2018 through its subsidiary First Club, has signed a binding agreement to sell its entire stake in the Romagna operator's holding company to The Equity Club. The transaction will have a total countervalue of approximately €109 million, of which some €35 million will be attributable to NB Aurora. The agreement envisages a reinvestment in Club del Sole by NB Aurora, together with other funds managed by the parent company Neuberger Berman and co-investors, for a maximum of €65 million (of which at least €45 million pertaining to NB Aurora). 

The majority of the capital will remain with the Giondi family

The Giondi family, which founded the open-air operator in 1974, will continue to hold the majority of the capital and guide the industrial project, with the transaction expected to close at the beginning of May 2024. The Equity Club is a club deal initiative promoted by Mediobanca together with Roberto Ferraresi and Filippo Penatti. According to some Italian media TEC should end up with 29% of the holding company Club del Sole, while NB Aurora and partners, including Red Circle Investments, would hold 20%. 

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