Consulting
Whitecase
Full Credential Description
doValue S.p.A., a prominent pan-European financial provider, faced the challenge of enhancing its position in the digital sector as part of its 2024-2026 Business Plan. To address this, doValue sought to diversify its operations into asset-light, technology-enabled business models. The specific solution involved acquiring coeo Group GmbH, a German digital receivables management platform, for a total cash consideration of €350 million, with an additional potential earn-out of €40 million contingent on meeting financial targets by 2028. The acquisition of coeo, which operates in eight countries and manages over 7 million credit files annually, was a strategic move to leverage coeos established relationships with blue-chip clients across various fast-growing sectors, including e-commerce and buy-now-pay-later . This transaction was financed through a €325 million bridge-to-bond facility underwritten by a syndicate of international banks, showcasing a robust financial strategy to support the acquisition. The tailored solution provided by White Case LLP involved comprehensive legal support, including mergers and acquisitions, corporate advice, and specialized expertise in foreign direct investment, antitrust, financial regulation, and tax. This multifaceted approach ensured that doValue could successfully navigate the complexities of the acquisition, ultimately positioning the company for significant growth and enhanced capabilities in the digital receivables management space.