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Court of Alessandria Bankruptcy Section

Notice of initiation of a competitive procedure pursuant to art. 163 bis L.F.

Biochemtex S.p.A. (No. 9/17), Beta Renewables S.p.A. (No. 10/17), IBP Energia S.r.l. (No. 11/17) and the Italian Bio Products S.r.l. (No. 13/17) companies belonging to the industrial group Mossi & Ghisolfi S.p.A., with registered office in Tortona (AL), Strada Ribrocca 11

Given that pending the terms set forth in art. 161, sixth paragraph, L.F., an irrevocable offer has been received to purchase in a single block all the respective company branches, which include all employment relationships and are related to the activities carried out in the bioenergy sector and advanced technologies for the synthesis of biofuels and green molecules of new generation from renewable lignocellulosic biomasses including the activities of: research, development and commercial exploitation; sale of licenses and ancillary services of the PROESA technologies for the production of low-cost second-generation sugars necessary for the production of bioethanol and/or other products; GREG for the production of polyols through hydrogenation of second generation sugars; and MOGHI for the production of aromatics and aviation fuel from lignin co-produced from the PROESA technology (so-called "BIO perimeter"). 

The offer is formulated for a price composed as follows:
- "fixed" component of € 75.0 million, in addition to the assumption of  charges  for a leasing contract related to  the power plant for a maximum amount of € 18.6 million;  assumption of the T.F.R. and related charges related to all employees in force, transferred pursuant to art. 2112 of the Civil Code, for a total amount to date of approximately € 963,000.00;
- "variable" component for up to a maximum of € 20.0 million on the basis of revenues in the next five-year period,. 

With a minimum increase as per art. 163 bis L.F. to be added to the "fixed" component of €5.0 million, the base price that the participant must therefore offer under penalty of ineffectiveness of the offer may not be less than €80.0 million as a "fixed" component, in addition to the assumption of the T.F.R. and to the "variable" component as determined above; and with a minimum increase, in the event of a tender, of €5.0 million.

Please note that with the decrees of 11.7.2018 the Court of Alessandria has called a competitive procedure according to the provisions of art. 163 bis L.F. in one single block.

The subjects interested in participating in the competitive procedure and in performing the due diligence activity can make a request to the judicial commissioners by directing it to the pec (registered email)  cp13.2017alessandria@pecconcordati.it  or to the email info@viafreguglia2.com, who will issue the relative regulation of the competitive procedure and the access credentials to the virtual data room set up for this purpose.

For the execution of the competition between the bidders on the basis of the offer already available, a hearing has been set before the Bankruptcy Court of Alessandria on 25 September 2018 at 3 pm to decide on the competing bids which need to be filed with the Chancellery of the Court of Alessandria within 12.00 am on 24 September 2018 together with a deposit of €10.0 million.