Squire Patton Boggs and Bonelli collaborate on Rai Way €280m Italian IPO

Squire Patton Boggs and Italian firm Bonelli Erede Pappalardo have advised Italian transmission tower operator Rai Way on its €280m (£222m) IPO this week on the Italian stock exchange.

Corporate partner Massimo Galli led the US and London-based Squire Patton Boggs team representing Rai Way and selling shareholder Radiotelevisione Italiana. Corporate partner Barbara Napolitano in Italy led Bonelli’s team.

Rai Way’s listing is the first to take place on the Italian stock exchange since the summer and represents one of the largest privatisations in Europe this year.

Rai legal director Salvatore Lo Giudice and Francesco Spadafora handled the deal for the company in-house.

Clifford Chance partner Filippo Emanuele represented joint coordinators Credit Suisse, Citi Group and BNP Paribas.

Background to the deal

This is the first time that the firm has represented Rai Way, as many of its previous transactions were not international. It is understood that Bonelli invited Squire Patton Boggs to pitch alongside it for the transaction in May 2014. Bonelli was in charge of the Italian transactional preparation for the listing, whereas Squire Patton Boggs took on the international and European work.