Watson Farley & Williams (“WFW”) advised Mediocredito Centrale (“MCC”) and AGART S.p.A. (“AGART”) – a company owned by Confartigianato, CNA, Casartigiani and Fedart Fidi – on their acquisition of 80% and 20% stakes respectively in financial intermediary Backer Generoso Andria (“BGA”), which has been rebranded as Artigiancassa.
The acquisition, completed just days after receiving authorisation from the Bank of Italy, marks a significant milestone in the creation of the new Artigiancassa. The company will become part of the MCC Group and fall under its management and coordination activities.
Developed through a strategic partnership between MCC and AGART, the project aims to position the new Artigiancassa as a product factory, creating a dedicated credit access channel across the country and managing subsidised financing schemes. Its objective is to better serve the credit and financial needs of artisans and, more broadly, small businesses, whilst preserving and enhancing the legacy of the historic “Artigiancassa” brand.
The WFW Italy Corporate team that advised MCC and AGART on the acquisition process and on the commercial agreements governing the future operations of Artigiancassa was led by Milan Partner Carlo Cosmelli, supported by Associate Nicolò Ricci Petitoni.
Carlo commented: “We’re delighted to have advised on the relaunch of Artigiancassa, which will support the development of Italian artisans and micro-SMEs, their integration into international supply chains and the energy and digital transition processes. Its goal is to strengthen production systems by directing resources towards responsible and sustainable growth”.
