Gessel has advised Polish stem cell bank Polski Bank Komorki Macierzystych on its EUR 420,000 acquisition of 53% of the share capital of Milan-based Sorgente S.r.l.
Sorgente was founded in 2004, and its line of business includes the construction of residential buildings.
The price may be increased by an additional amount based on an earn-out based on Sorgente's profit in 2020. The transaction is also subject to the fulfillment of a condition precedent involving the issue of an official permit by the Chancellery of the Prime Minister of Italy. According to forecasts, the integration process of Sorgente with the PBKM capital group will take about 18-24 months.
Gessel’s team included Partner Maciej Kozuchowski, Senior Associate Piotr Rysiak, and Associate Anna Haciuk.
Gessel did not reply to our inquiry on the matter.