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Eversheds advises Mandarin Capital on sale of 40% stake in Dagong Europe

  • Italy
  • General

12-12-2014

Eversheds Bianchini, the Italian offices of law firm Eversheds has advised Mandarin Capital Partners on the sale of its 40% stake in Dagong Europe, to parent company Dagong Global Credit Rating.

Mandarin Capital Partners is a private equity firm focused on China-Europe cross-border deals. Dagong Europe is an Italy-based credit rating business which was established in 2012 and last year received authorization and registration by the European Securities Market Authority (ESMA) to provide credit opinions on financial institutions including insurance companies and non-financial corporates.

The sale of 40% of the shareholding hold by Mandarin is expected to be completed in the next three months, according to the timing of approval of the Chinese authorities, and implies the payment of a consideration which is inclusive of a variable element depending on the performance of Europe Dagong Credit Rating in the next three years.

The Eversheds team was led by Marco Franzini, Partner and Head of Private Equity and Banking Practice in Italy, assisted by Associate Angelo Speranza.

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