The Parmalat effect

The scandal created by the Parmalat and Cirio affairs, together with the recent financial scandals in the US, has taken its toll on the private equity market in Italy. 2004 has got off to a quiet start for private equity investment in the country, with many funds preferring to bide their time before selling their portfolio companies, in the hope that valuations will improve. The few exit deals which are taking place have been carried out via secondary buyouts. According to Giovanni Tamburi, head of Tamburi & Associati, the post-Parmalat effect has placed increased stress on credit, making it almost impossible to finance M&A operations.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe