Ashurst advises Intesa Sanpaolo on the launch of LBO Frances Vita Superbonus program

EnergeaLBO, LBO France's team dedicated to climate resilience infrastructure investments, launches the VITA Superbonus program to support SMEs in the financing of energy efficiency and structural improvements on residential and commercial real estate assets.

VITA Superbonus will operate through the Property Improvements Bonds subfund series of the FIPS VITA fund, and will target “mini-green bonds” issued by SMEs and guaranteed by the Fondo Centrale di Garanzia managed by Mediocredito Centrale. The first subscription, of approximately € 100 million, will be absorbed by the first subfund series of the FIPS VITA fund managed by LBO France Gestion and financed by IMI - CIB of Intesa Sanpaolo. Funds managed by Azimut, P&G Spa, Glennmont and Phinance. will be among the main subscribers of the subfund series.

A platform coordinated by EnergeaLBO and managed by top-level technical advisors monitors and ensures the efficiency and speed of the works benefiting from incentives for construction, among which the super bonus.

Global law firm Ashurst acted as legal and tax advisor for structuring the transaction and assisted Intesa Sanpaolo with a cross-border and cross-practice team coordinated from Italy by managing partner Carloandrea Meacci and partner Michele Milanese. The Italian team included counsel Annalisa Santini and associate Anna Giulia Chiarugi. A French based team advised on the French law aspects of the transaction, led by partner Emmanuelle Pontnau-Faure, supported by associate Solène Guyon for tax, partner Hubert Blanc-Jouvan and senior associate Francesco Assi for regulatory; partner Pierre Roux and associate Kevin Perraudin for banking and partner Anne Reffay for corporate aspects.