Global law firm White & Case LLP has advised Ali Group S.r.l. and Ali Group North America (Ali Group) on a US$4.5 billion financing for the acquisition of US public company Welbilt, Inc. in an all-cash transaction for US$24.00 per share, or approximately US$3.5 billion in aggregate equity value and US$4.8 billion in enterprise value.
The financing is being arranged by Goldman Sachs International and Mediobanca.
The financing combined both US and European structures and USD and Euro sources. It includes a US$2.25 billion term Loan B financing, a US$1.25 billion Euro-equivalent term Loan A financing, a US$750 million asset sale bridge financing and a US$250 million revolving credit facility.
Ali Group is one of the largest and most diversified global leaders in the foodservice equipment industry. The transaction marks a significant milestone in the Group's history and will consolidate and increase its already significant presence in the U.S. and international markets.
The White & Case team that advised on US, UK and Italian finance matters was led by partners Michael Immordino (Milan and London), Justin Wagstaff (New York), Martin Forbes (London) and Iacopo Canino (Milan), with support from associates Bianca Caruso (Milan), Shaheen Karolia (New York) and Forrest Brown (Houston), and lawyer Luca Misseroni (Milan). White & Case partner David Dreier (New York) advised on US tax matters.
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