Linklaters has advised UniCredit Bank GmbH on the complex funded equity collar options transaction concluded by Fides S.p.A., a vehicle managed by Clessidra Private Equity SGR S.p.A., in its capacity as management company of the alternative investment fund Clessidra Capital Partners 3.

The funded collar transaction consists of a series of put and call options having as underlying approximately 18,146,295 ordinary shares (approximately 1.4%) of Nexi S.p.A., and also provides for a loan by UniCredit Bank GmbH, to be used by Fides to refinance its outstanding financial debt and for other costs.

Linklaters assisted UniCredit Bank GmbH with a cross-practice team led from London by Banking partner Will Evans and Capital Markets partner Doug Shaw with the assistance of managing associates Stephen Murphy and Mark Crawford. Italian capital markets advice was provided by partner Ugo Orsini whilst counsel Anna Ferraresso, and associate Maria Chiara De Biasio assisted with the Italian regulatory and banking aspects of the transaction. Partner Melinda Perera and managing associate Thibaud Muller advised on the Luxembourg law elements of the transaction.

Fides was advised by Chiomenti.