Paolo Sersale heads the corporate M&A practice in Italy. With more than 20 years of practice, his experience ranges from public and private M&A, to corporate restructurings, private equity and ECM.
- The underwriters in connection with EUR€2.6 billion IPO of Pirelli & C. (2017)
- Cinven and its Italian Insurance arm, ERGO Previdenza, in relation to the acquisition of Eurovita from JC Flowers (2017)
- PSP Investments, one of Canada's largest pension investment funds, in relation to a €500 million investment in F2i's new Infrastructure Fund (2017)
- Exprivia, the Italian listed IT group, in connection with the acquisition of control of Italtel in the context of Italte's debt restructuring and recapitalisation according to art. 182-bis of the Italian Bankruptcy law (2017)
- Campari: in relation to the sale of its wine assets (2016)
- Poste Italiane: in connection with its EUR€3.4 billion privatization through IPO (2015)
- Independent members of the Board of Directors of World Duty Free: in relation to the launch of a mandatory tender offer from Dufry for 50.1% of WDF’s share capital (2015)
- Italian Ministry of Finance: in relation to the disposal of a 5.74% stake in Enel for a value of approximately EUR€2.2 billion (2015)
- Telefónica: in relation to its investment in Telco/Telecom Italia and the related consortia agreements with Generali, Intesa and Mediobanca (2007-2014)
- Fondo Strategico Italiano: in connection with its EUR€2 billion J.V. with Qatar Holding(2013)
- Assicurazioni Generali: in relation to the establishment of its pan-European real estate platform, Generali Real Estate, managing a portfolio of approximately €28 billion and in 11 countries (2012)
- Assicurazioni Generali: in relation to the reorganisation of its asset management activities under the UCTS IV Directive (2012)
- LIXIL Corporation: in relation to the acquisition of Permasteelisa, the world’s leading curtain wall maker, from Investindustrial and Alpha Private Equity (2011)
- E.ON: in relation to the auction sale of its Italian gas distribution network to F2i and Axa Private Equity (2010)
- UniCredit: in relation to its €6.6 billion recapitalisation plan, including rights issue, CASHES hybrid bond issue and scrip dividend (2009)
Global M&A Toolkit
What's new in Italian corporate law now that the 'Decreto Competitività' is law?
10 October 2014
Italy Perspective Autumn/Winter 2012/2013 Notebook on refinancing and restructuring
31 July 2013
European M&A: On the road to recovery?
5 June 2013
Semplificazione in materia di relazioni e di documentazione per fusioni e scissioni
4 September 2012
Streamlining the reports and documents needed for mergers and de-mergers
4 September 2012
Career and qualifications
- University of Milan (LL.D) 1993
- Trained at Schlesinger-Lombardi 1994
- Simmons & Simmons, London 1995
- Admitted as an avvocato in Milan, Italy 1996
- Joined Clifford Chance 1998
- Partner since 2002
- Head of Corporate M&A, Italy since 2007
Awards and citations
- Clients say he brings "a level of depth and experience that is essential to support the execution of a complex transaction. He also exercises good judgement when developing options and recommending a proposed solution."
Chambers Global and Europe 2017: Corporate M&A
- The "highly rated" Paolo Sersale has broad experience in the corporate arena. He is well versed in both public and private M&A and combines this knowledge with expertise in corporate finance and corporate restructurings.
Chambers Global and Europe 2016: Corporate M&A
- "Technically very strong and knows the business environment well. He has a very flexible attitude and style"
Chambers Global 2013: Corporate/M&A
- "Practice head Paolo Sersale is consistently noted for his professional standing and high-calibre work."
Chambers Global 2011: Corporate/M&A