Rome, November 15, 2006 – LAWFUEL – Law News Network – The Rome offi…

Rome, November 15, 2006 – LAWFUEL – Law News Network – The Rome office of Shearman & Sterling acted as U.S. and English counsel to Charme Investments S.C.A. and Franco Moschini S.p.A., as selling shareholders, and Poltrona Frau S.p.A., as issuer, in connection with the initial public offering and concurrent listing on the Borsa Italiana of Poltrona Frau’s ordinary shares. Poltrona Frau is the world’s leading producer of luxury home furnishings and is well known in the design industry for its iconic brands, which include Poltrona Frau, Cassina, Cappellini, Alias, Gufram and Gebrüder Thonet Vienna.

The offering, which was oversubscribed more than 16 times (a record for recent Italian IPOs), represents a successful partial exit for Charme, which is a Luxembourg-based private equity fund specializing in “Made in Italy” luxury goods that was founded by Mr. Luca Cordero di Montezemolo, who is the current President of Confindustria and Chairman of Fiat S.p.A. and Ferrari S.p.A. Charme continues to control Poltrona Frau following the offering and has stated that it will continue to invest in the luxury home furnishings sector.

The Shearman & Sterling team was led by Rome-based Capital Markets and M&A partner Michael Bosco, assisted by associates Mei Lian, Ethan Perry and Emanuele Trucco and trainees Serena Scarabotti and Francesco Liberatori. The transaction also involved lawyers from the firm’s International Tax Group led by London-based partner Bernie Pistillo and associate Sara Clevering.

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