The complex operation, which required authorization from the European Central Bank and the Bank of Italy, consisted of the acquisition of the majority of the share capital of Banca del Sud and, subsequently, the execution of a recapitalization and capital strengthening operation, ahead of the launch of Smart Bank, a digital investment bank, serving institutional clients, private banks, businesses, family offices and fintechs.
With the launch of Smart Bank, DWF also assisted Cirdan Group in a cross-border transaction to reorganize the related corporate group, which in addition to Smart Bank includes, Cirdan Capital Management, an English-registered investment firm authorized and supervised by the UK Financial Conduct Authority and CONSOB as well as Smart ETN PLC, an Irish-registered securitization vehicle-as well as in structuring Cirdan Group as a financial holding company at the head of the related banking group.
DWF's multidisciplinary and cross-border team that assisted Cirdan Group and the companies of the related group was led by Luca Lo Po' (pictured left), European head of the firm's debt capital market practice, and was composed, for authorization, regulatory and compliance profiles by Marta Tiraboschi (pictured center) and Giuseppe La Cava, for corporate and contractual profiles related to the acquisition by Massimo Filippo Breviglieri (pictured right) and Alessandro Zeppieri with the support of Luca Cuomo, for tax profiles by Tancredi Marino and Ottavia Orlandoni and Giuseppe Moramarco, and for intellectual property profiles by Marco Annoni.
English law regulatory profiles were handled by Luca Lo Po' and Andrew Jacobs and Kristina MacPherson while corporate profiles were handled by Alistair Hogarth of the firm's London office.
Irish law corporate profiles were followed by DWF's Dublin office.
