The Firm advised MPS on the Npl/Utp de-risking via demerger in favour of Amco

The Firm, with a team composed of Giulio Tremonti, Dario Romagnoli, Antonio Vitali, Stefania Trezzini, Ira Shiku and Alessandro Antonacci, assisted Banca Monte dei Paschi di Siena on tax profiles concerning the announced partial non-proportional demerger of a compendium of assets and liabilities including, inter alia, a portfolio of NPL (around 9 billion euros) and a bridge loan (around 3 billion euros) that will be granted to the bank. The transaction is contingent, inter alia, on ECB authorization.