CIFA

Fineurop Soditic acted as financial advisor to private equity fund Magenta S.G.R. in the sale of CIFA S.p.A. for around Euro 500 million.
The acquisition was made by Chinese construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Development Co. Ltd (60% stake), in partnership with Chinese private-equity firm Hony Capital, US-based investment bank Goldman Sachs and private equity fund Mandarin Capital Partners which will hold 18.04% stake, 12.92% and 9.04% respectively. Zoomlion paid Euro 163 million for a 60% stake.
Founded in 1928, CIFA (Compagnia Italiana Forme Acciaio) is the world's third largest concrete machinery manufacturer.
The Company expects to post 2008 sales of Euro 360 million, with an Ebitda of 19%.
This transaction represents the biggest acquisition of an Italian target, carried out by a Chinese company.
The deal will help Zoomlion, listed on Shenzhen Stock Exchange, to strengthen its appearance in the international market and expand its business in Europe and North America through CIFA’s existing network in these markets.