The Italian team of Shearman & Sterling is advising CVC Capital Partners in the sale to the private equity fund PAI Partners of 100 percent of Pasubio, a leading European leather manufacturer, which produces high quality leather products for car interiors serving the premium and luxury automotive segments. Pasubio employs approximately 1,000 people and operates six facilities, where it performs tanning, post-tanning and cutting activities. Pasubio has plants in Europe and North America. Key clients include Porsche, BMW, Bentley, JLR, VW, Rolls Royce, Lamborghini and Maserati.
Closing of the transaction, which is subject to a customary closing condition, is expected for October 2021.
Shearman & Sterling LLP Firm practices in Italy in association with Studio Legale Associato Shearman & Sterling LLP. Partners in the Rome and Milan offices are partners in Studio Legale Associato Shearman & Sterling LLP.
The Shearman & Sterling team below was supported by Luca Mirabile and Michela Marchetti.