Sayenko Kharenko has advised Glenalta S.p.A on its merger with CFT S.p.A, the parent company of CFT Group, a manufacturer of food processing and packaging machines.
Following the transaction, which as performed through reverse takeover, CFT’s shares became listed on the Italian Alternative Investment Market ("AIM Italia") with a free float equal to approximately 51.51% of CFT’s share capital, which allows CFT to raise substantial finance to support its business. Additionally, it is anticipated that Glenalta will spend approximately EUR 88 million on the development of CFT Group.
Glenalta is an Italian special purpose acquisition company, listed on AIM Italia, which is organized and managed by Borsa Italiana, the Italian central stock exchange.
The CFT Group, founded in 1945, is a global designer and manufacturer of machinery and turnkey systems, mainly for the food & beverage industry.
The Sayenko Kharenko team was led by Counsel Sergiy Kazmirchuk, working under the general supervision of Partner Vladimir Sayenko. The team also included Senior Associate Konstantin Penskoy and Associates Yurii Dmytrenko, Oksana Daskaliuk, Ilhar Hakhramanov, Olga Kyriusha, and Dasha Dashkevych.
