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• L O M B A R D •6

KPMG, Fineurop Soditic and Class Editori, the publisher of Lombard magazine and Milano Finanza, are promoting the twelfth edition of the M&A Awards under the patronage of Bocconi University and the Italian Association of

Private Equity and Venture Capital Advisors (AIFI).The 19-member jury, chaired by Roger Abravanel, McKinsey emeritus and essayist, selected, among a couple of dozen of operations, the most outstanding deals of 2015 (below the winners of the past editions) in terms of entrepreneurial courage, growth,

vision, value creation and industrial innovation (product, distribution, technology). Economists, like Innocenzo Cipolletta and Stefano Caselli, top managers like Claudio De Conto, Matteo Tiraboschi, Raffaele Jerusalmi, Enrico Wallner, Paolo Marchesini, professionals, like Umberto Nicodano and Angelo Provasoli and entrepreneurs, like Franco Moscetti, Marco Giovannini and Margherita Zambon took part in a very high-level jury (see inside). The list of nominees from which the winners of this edition have been announced during the awards ceremony is published inside.

The awards will be assigned to those companies which stood out for:1) entrepreneurial courage, impetus toward internationalization and ability to graspopportunities on new markets: that is the Award for the Best Acquisition Abroad by an Italian Company;2) confidence in the Italian industrial system and the growth opportunities it offers:that is the Award for the Best Acquisition in Italy by a Foreign Group;3) ability to obtain synergies, streamline organizations and achieve a critical mass suf-ficient to withstand international competition: that is the Best Italian Acquisition.4) the Award Finance for Growth has been assigned to Interpump, a global leaderin the industry, that has distinguished itself as a serial acquirer, with some 40 deals completed in the last 20 years.The deal YOOX NET-A-PORTER has been also awarded as Deal of the Year.

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• L O M B A R D • 9• L O M B A R D •8

Claudia Parzani, Partner

Linklaters Law Firm

Raffaele Jerusalmi, CEO, Italian Stock

Exchange

TWELFTH EDITION OF THE M&A AWARDS

ITALIAN ACQUIRORS IN ITALY

� Bidder: Giochi Preziosi� Target: Bimbo Store� Seller: Quadrivio sgr, Mirko Favari � Sector: Consumers market� Stake: 100%� Price: €28 mn� Closing date: February 2015� Bidder rationale: the creation of

an European player in the retail for kids

Bidder: Interpump Group� Target: Walvoil� Seller: founder families� Sector: mechanical� Stake: 100%� Value (EV): €117 mn� Closing date: January 2015

ITALIAN ACQUIRORS ABROAD

� Bidder: Industrie De Nora � Target: Severn Trent (water purification) � Seller: Severn Trent group� Sector: water treatment� Stake: 100%� Price: €96.44 mn� Closing date: July 2015� Bidder rationale: acquisition of a

strategic asset for the development of the European and US market

� Bidder: Gtech� Target: International Game

Technology Inc.� Seller: Private investors � Sector: entertainment � Stake: 100%� Price: €3,410 mn

FOREIGN ACQUIRORS IN ITALY

� Bidder: ChemChina Corporation � Target: Pirelli & C. S.p.A.� Seller: Camfin � Sector: Tires manufacturing� Stake: 100%� Price: €7,285 mn� Closing date: November 2015 � Bidder rationale: integration

of the tires activities in the ChemChina group, in particular in the truck segment and acquisition of the Italian technology

� Seller rationale: strenghten brand penetration in the largest automotive world market, maintaining the continuity and indipendence of the Group's mananagement structure

The nominees

Gabriele Capolino, Associated Publisher,

Milano Finanza

Roger Abravanel, McKinsey emeritus

and essayist

Maximilian Peter Fiani, Partner, KPMG

Corporate Finance

Angelo Provasoli, Founding partner

Partners

Stefano Caselli, Deputy Dean,

Bocconi University

Gabriele CappelliniCEO, Fondo Italiano

d'Investimento

Innocenzo Cipolletta, Economist and Chairman AIFI

Marco Giovannini, Chairman and CEO,

Guala Closures Group

Giovanni Gilli, Head Capital Light Bank

(Intesa Sanpaolo)

Claudio De Conto, CEO, Artsana Group

Eugenio Morpurgo, CEO, Fineurop Soditic

Matteo Tiraboschi, Executive Vice

President, Brembo

Franco Moscetti, CEO, Axel Glocal

Business

Margherita Zambon, Chairman,

Zambon Group

Umberto Nicodano, Partner Bonelli Erede

Law Firm

THE JURYCHAIRMAN

Paolo Marchesini, Managing Director and CFO, Davide Campari

� Bidder rationale: international synergies in the Oil&Gas business, market share growth in the distribution and agriculture

� Bidder: Seri Jakala� Target: Value Lab� Seller: Private investors� Sector: marketimg services and

digital solutions� Stake: 60%� Price: €20 mn� Closing date: November 2015� Bidder rationale: creation of

an international group in the advisory, analytics and services in the e-commerce sales&marketing, the new group is already leader in Italy and in the top European players

� Closing date: April 2015� Bidders rationale: creation of

the global leader in the gaming business, with the listing of the newco at the NYSE

� Bidder: IMA� Target: Oystar Group� Seller: Lin Vermogensverwaltung� Sector: mechanical� Stake: 80%� Price: €62.7 mn� Closing date: February 2015� Bidder rationale: to become

a strong player also in the packaging machines for dairy products enlarging the presence into the South-East Asian market

� Bidder: Dufry AG� Target: World Duty Free � Sellers: Edizione Holding

(Benetton group)� Sector: Travel retail� Stake: 96.7%� Price: €2,521 mn� Closing date: November 2015� Bidder rationale: creation of the

global leader in the travel retail industry with a market share of approx. 24% in airport retail globally

Enrico Wallner, CFO, Coesia

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