Over the last few months increased attention has been paid to Cartiere Paolo Pigna (paper mill) compared to last December when Alzaro Lombardo’s company had deposited its plan for an agreement among creditors in insolvency procedures, which clearly showed that only the German Bavaria Industries Group had shown formal interest in taking over the company. At the end of last June, instead, the Idea Ccr (Corporate credit recovery) fund, managed by Idea Capital Funds sgr (owner of the De Agostini group) allied with Bayside Capital (of the Hig Capital group), and active in the industrial and financial restructuring of firms in financial difficulties but with a solid industrial base, had announced the signature of a series of agreements with a group of banks to take over the non-performing loans from eight companies, including also Cartiere Paolo Pigna. On 3rd August last the local online newspaper BergamoNews then reported that the Idea Ccr fund has acquired receivables from Pigna worth of 10 million Euros and that in the meantime expressions of interests for the company have been expressed by the French Hamelin group and the Russian Academy group.
Cartiere Pigna, which has signed an agreement among creditors in insolvency procedures to guarantee corporate continuity, is today controlled by the President and Managing Director of the group Giorgio Jannone, who in 2011 had subscribed a capital increase of 9.8 million Euros, with the aim of increasing it even further to 82.8% and spreading it to all partners (while the 15.9% share is the hands of the heirs of Carlo Pesenti Pigna).