Rome, November 8, 2007—The Rome office of Shearman & Sterling acted as US and English counsel to Merrill Lynch International and UniCredit Markets & Investment Banking in connection with the initial public offering in Italy and the private placement to institutional investors internationally of Damiani S.p.A.’s ordinary shares. The global offering was more than three times oversubscribed, and Damiani's ordinary shares were listed on the STAR segment of the Borsa Italiana. The IPO represents the latest in a series of Italian capital markets transactions in the luxury sector handled by the Rome office.

Damiani is a leading Italian producer of high-end luxury jewelry. The Damiani group designs, produces and distributes high-end luxury jewelry under five brands, Damiani, Salvini, Alfieri & St. John, Bliss and Calderoni, and it is widely known for its use of top international celebrities including Gwyneth Paltrow, Brad Pitt and Isabella Rossellini in its marketing efforts.

The Shearman & Sterling team was led by partner Michael Bosco (RO-CM/MA), assisted by partners Barney Reynolds (LN-EF) and James Comyn (LN-MA) and associates Ethan Perry (RM-CM), Emanuele Trucco (RM-CM), Azad Ali (LN-EF), Manan Lahoty (LN-MA) and David Ingrassia (RM-CM) and international trainees Vincenzo Armenio (RM-CM), Marco Giorgi (RM-CM), Matteo Melis (RM-CM), Gabriele Sabato (RM-CM) and Serena Scarabotti (RM-CM). The transaction also involved lawyers from the firm’s International Tax Group led by partner Bernie Pistillo (NY-TX) and associate Michael Sunwoo (NY-TX).