DLA Piper has advised Etihad Airways, the national airline of the United Arab Emirates, on its entry into a transaction implementation agreement with Alitalia, which will result in a €1.76m (£1m) investment to build a reinvigorated Alitalia as a competitive, sustainably profitable business.
Etihad Airways’ investment of €560m will be provided through a combination of equity injections, asset purchases and other financing facilities and funding arrangements to restructure the airline’s balance sheet.
Completion of the equity investment remains subject to completion by Alitalia and its key private and public stakeholders of certain conditions precedent and is also subject to final regulatory approvals.
The DLA Piper team comprised more than 50 lawyers from the firm’s Rome and Milan offices and across the UK. Partners Jon Hayes, Matteo Mancinelli and Michael Bosco led the team overall.