News 27.03.2024

PedersoliGattai with Civitanavi System Ltd in the takeover bid of Honeywell on Civitanavi System Srl

Honeywell International Inc. (“Honeywell”), NASDAQ-listed US conglomerate operating globally in several high-tech industries, including Aerospace, launched – through its subsidiary Honeywell Srl – a voluntary takeover bid, aimed at delisting, on 100% shares of Civitanavi System SpA, a company listed on the Euronext Milan market active in the research, design and production of inertial systems and sensors, applied to the most advanced national and international civil and defence industries.

The maximum countervalue of the transaction is approx. EUR 200 million and its execution is subject to the fulfilment of certain conditions under the agreements between the parties, including authorisation by the competent authorities.

PedersoliGattai, with a team coordinated by Bruno Gattai and Nicola Brunetti (partners), and composed of Enrico Candotti (counsel) and Tommaso Soragni (associate), advised Civitanavi System Ltd, controlling shareholder that holds more than 66% shares of Civitanavi, in the execution with Honeywell of the commitment to subscribe the said offer.

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