White & Case advises funds managed by Oaktree Capital Management on sale of controlling stake in Banca Progetto

Global law firm White & Case LLP has advised funds managed by Oaktree Capital Management (Oaktree) on the sale of a controlling stake in Italian speciality bank, Banca Progetto S.p.A. (Banca Progetto), to funds managed by Centerbridge Partners, L.P.

"This is the latest in a number of significant deals on which we have advised Oaktree," said White & Case partner Richard Jones, who led the Firm's deal team. "It is another example of our capabilities advising on high value, cross-border private equity transactions."

Oaktree is a leading global investment manager, specializing in alternative investments, with over US$193 billion assets under management.

Banca Progetto is a leading Italian bank focused on small and medium enterprises, offering a specialised set of products to Italian small and medium-sized enterprises and European private customers, leveraging a best-in-class digital platform and a well-established network of agents throughout Italy.

The White & Case team which advised on the transaction was led by partner Richard Jones (London) and included partners Ferigo Foscari, Alessandro Seganfreddo and Alessandro Zappasodi, local partners Alessandro Picchi and Sara Scapin, counsel Tommaso Tosi (all Milan) and associates James Charteris-Black (London), Elena Ruggiu, Lorenza Fici, Vincenzo Ferrini and Andrea Lamonica (all Milan).

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