Dentons assisted Vauban Infrastructure Partners, Natixis Investment Managers’ infrastructure equity investment arm, in relation to the acquisition by Core Infrastructure III SCS Fund of a 75% stake in Progeni S.p.A.  Progeni is a special purpose vehicle that manages the concession contract for the provision of non-medical services for the Niguarda Hospital in Milan. The concession, signed in 2006 with Azienda Ospedaliera Niguarda Ca’ Granda and lasting until 2033, includes the initial redevelopment of the hospital and the provision of services during the operating phase. The construction of the hospital was completed in 2013.

The sellers were a group of leading Italian industrial players (CMB, Gemmo, Coopservice, CIR FOOD, Servizi Italia and Consorzio Cooperative Costruzioni) and BPER Banca.

Dentons acted with a multidisciplinary team led by partners Barbara Urselli in Rome and Paul Morel in Paris. The team also included the following Italy-based lawyers: managing counsel Andrea De Luca Picione and associate Stefania Verroca for aspects related to existing financing and the consent of the financing banks; managing counsel Mileto Giuliani and associate Francesco Crimi for corporate aspects; managing counsel Ilaria Gobbato and associate Lorenzo Ugolini for all the issues related to the concession; and partner Michele Carpagnano and associate Giulia Giordano for antitrust and “golden power” aspects.