Cassiopea Partners acted as financial advisor to NB Renaissance (“NB”), a major shareholder of Mater-Bi S.p.A. (“Mater-Bi”) along with Investitori Associati II, in the sale of a 64% stake held in Novamont S.p.A. (“Novamont”) by Mater-Bi itself to Versalis S.p.A. (“Versalis”) – ENI’s chemical company.
Novamont is a leading player in the circular bioeconomy sector, as well as a leader in the market for biodegradable and compostable bioplastics and biochemicals. Versalis is the largest Italian chemical company and leader at an international level, whose strategy hinges on its product portfolio specialization, including the chemistry from renewables.
The acquisition represents a great opportunity for Versalis to accelerate its strategy through the integration of a technological platform which is both unique and complementary. This will significantly contribute to the decarbonization of Versalis’ product portfolio. The deal will also strengthen the Novamont platform by accelerating the growth of high value-added, multi-product supply chains and local projects. The goal is decoupling the use of natural resources from economic growth so as to keep doing more with less.
Closing remains subject to approval by the competent authorities.
After having advised Novamont in 2022 in the renewed partnership with Versalis/ENI, Cassiopea Partners, leveraging on deal experience, seniority and ability to secure high confidentiality, also advised on this milestone transaction, representing a key step in the development of a world leading player in the biochemicals and bioplastics. This transaction further reinforces our track record in the ESG space.