Michael Immordino | White & Case LLP International Law Firm, Global Law Practice
Michael Immordino
Michael Immordino

Michael Immordino

Partner, London, Milan

T +44 20 7532 1399

T +39 020 068 8310

E michael.immordino@whitecase.com

Michael is unanimously acknowledged as a star of the market, obtaining fantastic feedback across the board. Clients enthuse: “He is much more than a lawyer. He has an understanding of the business and adapts his legal work to the real essence of the corporation he is working with.”

Chambers Global

Overview

Michael Immordino is recognized as a top-rated lawyer with significant experience in corporate finance, mergers and acquisitions and private equity. His practice is based jointly in London and Milan.

He is frequently called upon to work with companies and investment banks, especially in connection with complex, international M&A and securities transactions.

Michael is an innovative lawyer with an ability to lead pioneering work on behalf of his clients. He has worked on many "first time" deals in the international markets and in the M&A space for Italian companies.

SECURITIES TRANSACTIONS:

Michael's extensive capital markets experience covers advising investment banks and issuers in both public and private equity and debt offerings (including SEC registered, Rule 144A and Regulation S transactions). In the DCM area, he has significant experience in high yields, Eurobonds, covenanted Eurobonds, Euro Private Placements and US Private Placements. In the ECM area, he has advised on a broad range of IPOs, secondary offerings and block trades. He has also acted as counsel in numerous offerings of Italian and Spanish companies, covering most industry and financial sectors.

Michael is ranked in Band 1 in Debt Capital Markets by Chambers Global 2017 and as a "star" "US/UK qualified expert" by the same directory. He is also recognized as leading lawyer by The Legal 500 and by IFLR-1000. According to Chambers Global, clients appreciate his capacity to co-ordinate his team and his relationship skills, with one noting: "He knows all the financial players in Milan." As reported by The Legal500, Michael has "excellent knowledge of US capital increase transactions" and he is recommended in Corporate and M&A and Banking & Finance by the same publication.

CORPORATE M&A AND PRIVATE EQUITY:

Michael often heads up teams of the Firm's lawyers in cross-border mergers and acquisitions transactions, including public and private negotiated acquisitions. Clients who seek his counsel in this area include companies, financial advisers and private equity funds.

He frequently acts in various cross-border M&A transactions on behalf of his clients and has assisted numerous corporates in connection with their investment activities and strategic projects.

CLIENTS:

Michael works with a diverse group of investment banks, corporate clients and private equity firms.

His investment banking clients include: Bank of America Merrill Lynch, Banca IMI, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, JP Morgan, Mediobanca, Morgan Stanley and UniCredit.

Corporate clients include: Aeroporti di Roma, Amplifon, Ariston Thermo, Atlantia, Autogrill, Barilla, Cremonini, De' Longhi, Edizione Holding, Farmafactoring, Gamenet, IGT, IMA, Intesa Sanpaolo, Italiaonline, Kedrion, Kiko, Kobalt, Moby, Piaggio, Salini Impregilo, UniCredit.

He has also advised on several private equity deals for the likes of BC Partners, Carlyle, InfraCapital, Trilantic and other private equity funds.

Bars and Courts

  • New York State Bar
  • England and Wales (Registered Foreign Lawyer)

Education

  • JD (Juris Doctor), Duke University School of Law
  • BA, Colgate University

Languages

  • English
  • Italian
  • Spanish
  • French

Experience

Capital Markets

 

N&W Global Vending's €300 million senior secured notes issue, 2016
Michael led the cross-border team that advised Goldman Sachs International, Deutsche Bank AG, London Branch, Banca IMI S.p.A. and Crédit Agricole Corporate and Investment Bank as initial purchasers in connection with the issuance by N&W Global Vending S.p.A. of the €300 7% senior secured notes due 2023.

Gamenet's €200 million high yield, 2016
Michael led the team that advised Gamenet Group S.p.A. in connection with the issuance of its €200 million 6% Senior Secured Notes due 2021, which were issued pursuant to Rule 144A and Regulation S under the Securities Act.

Saipem's €3.5 billion rights issue, 2016
Michael led the team that advised Saipem, one of the world leaders in drilling and engineering services, in connection with a strategic rights issue. The offer was partially guaranteed by a syndicate of bankers led by J.P. Morgan and Goldman Sachs International, as joint global coordinators, and Banca IMI, Citigroup, Deutsche Bank, Mediobanca and UniCredit Corporate and Investment Banking as joint bookrunners.

UniCredit's €749 million sale of listed shares, 2016
Michael led the cross-border team that advised Unicredit on the sale of approximately 26,2 million ordinary shares held by its subsidiary Bank Pekao (corresponding to approximately 10% of the share capital) carried out through an accelerated bookbuild offering to institutional investors.

IGT's US$5 billion senior secured notes issue, 2015
Michael led the cross-border team that advised IGT (formerly GTECH S.p.A.) on its issuance of a series of senior secured notes denominated in US$3.2 billion and €1.6 billion equivalent in aggregate to approximately US$5 billion.

Regular assistance to Intesa Sanpaolo
Michael regularly advises Italian banking group Intesa Sanpaolo S.p.A. on its US$25 billion funding program. He also represented Intesa Sanpaolo on several Yankee bonds issued under its Medium Term Note programme, including: a US$2 billion 5.017% tier 2 subordinated Yankee bond due 2024; a US$2.5 billion issuance of two Yankee bonds (which was awarded "Best US dollar senior financial institution transaction in 2014" by Global Capital); and a US$1.25 billion 3.875% issuance of Yankee bonds due 2018 (which won the Euroweek annual award for US dollar senior financial institution issuance in 2013).

 

M&A and Private Equity

 

I.M.A. Industria Macchine Automatiche's cross-border acquisition, 2016
Michael led the cross-border team that represented IMA, the listed company packaging leader, in connection with the acquisition of 100% of Komax Systems LCF and Komax Systems Rockford and 76% of Komax Systems Malaysia, companies based in Switzerland, the United States and Malaysia.

Mediobanca's cross-border acquisition of Cairn Capital, 2015
Michael led the team which represented Mediobanca in connection with its acquisition of a majority stake in Cairn Capital  a London based investment management firm, from RBS (the first outbound investment in Mediobanca's history).

De' Longhi Industrial's €500 million public M&A sale, 2015
Michael led the team which represented De' Longhi Industrial in connection with the sale of approximately 74.97% of the share capital in DeLclima S.p.A., a listed Italian company active in the manufacturing and sale of chillers and heat pumps, to Mitsubishi Electric Corporation.

Corporación América's public M&A acquisitions, 2015
Michael led the team which represented Corporación América S.A. in connection with the mandatory offer for the entire share capital of Aeroporti di Firenze S.p.A. for up to € 80 million, and the voluntary offer for the entire share capital of Società Aeroporto Toscano Galileo Galilei S.p.A. for up to €94 million.

Fondo Strategico Italiano's €151.2 million private acquisition, 2013
Michael led the team which represented Fondo Strategico Italiano (the Italian sovereign wealth fund) in connection with its investment for the purchase of 49.5 percent of Valvitalia S.p.A.'s share capital.

De' Longhi S.p.A. €214 million cross-border acquisition, 2012
Michael led the team which represented De' Longhi S.p.A. in connection with its perpetual licensing of the Braun brand and its acquisition of certain assets from the Procter & Gamble Company, in a deal worth up to €214 million.

Atlantia S.p.A. €857 million cross-border acquisition, 2012
Michael represented Atlantia S.p.A. in connection with the €857 million (US$1.13 billion) sale of a 49.99 percent stake in Grupo Costanera to Canada Pension Plan Investment Board.

Primav Construções e Comércio's €770 million cross-border acquisition, 2012
Michael assisted Primav Construções e Comércio S.A. in connection with its acquisition from Impregilo of a 19 percent stake in Ecorodovias Infraestructura e Logistica S.A.

 

Speaking Engagements

Michael regularly speaks at industry conferences and seminars. His most recent engagement was at the Euromoney Italy Conference held in Milan in September 2015.

Awards & Recognition

Leading Lawyer (Band 1): Capital Markets: Debt – Italy – Chambers Europe 2017, Chambers Global 2017

Leading Lawyer (Band 1): Capital Markets: Equity – Italy – Chambers Europe 2017, Chambers Global 2017

Star Individual: Capital Markets – US/UK-qualified Experts – Chambers Global 2017

Market Leader: Capital Markets: Debt – Italy – IFLR1000 2018

Market Leader: Capital Markets: Equity – Italy – IFLR1000 2018

Market Leader: Capital Markets: High Yield – Italy – IFLR1000 2018

Market Leader: Capital Markets: Banking – Italy – IFLR1000 2018

Market Leader: M&A – Italy – IFLR1000 2018