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Cerberus buying majority stake in Officine CST

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Cerberus buying majority stake in Officine CST

New York-based alternative investor Cerberus Capital Management LP and its affiliates agreed to acquire a 57% share of Officine CST SpA.

Officine, a provider of credit management services to banks, institutional investors, utilities, and multinational companies, manages over €16 billion in claims and employs 150 people in Italy.

Cerberus is acquiring the stake from founder and CEO Gianpiero Oddone and other shareholders. Oddone will continue as CEO and retains a 28% stake in Officine. Roberto Nicastro, senior adviser to Cerberus, will become Officine's nonexecutive chairman.

Vitale & Co. served as financial adviser and Lombardi Segni e Associati served as legal adviser to Cerberus. GOP served as legal adviser to Officine.