Good news in bad times

Indeed, Italy has seen a number of first-time events recently, showing that some momentum perseveres. For the first time, Italy saw private equity back a financial institution (JC Flowers and Mid Industry Capital backed Euromobiliare SIM in a EUR140m deal); regional newcomer Cognetas closed its first deal in the country since opening its Milan office in September 2006 (teaming up with Investitori Associati to buy vending machine operator Gruppo Argenta from Advent International); and Indian private equity firms entered the scene with Arca Impresa Gestioni's sale of electronics company Cemp to Tano Capital.

Another first is the launch of the revamped website for unquote" which is easier to navigate. With your subscription you will be able to gain access to the news along with other services offered through the unquote" family. Have a look at www.unquote.com.

Finally, this is also my first issue as the editor of Southern Europe unquote" and I would like to thank you for your support. I look forward to collaborating with you all in the near future.

Yours truly,

Francinia Protti-Alvarez

Editor, Southern Europe unquote"

Tel: +44 20 7004 7476

francinia.protti-alvarez@incisivemedia.com.

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