- 4th May 2021- The deadline to place an offer (12:00 a.m)
- 5th May 2021 – The date when the public auction will take place (at 11.10)
- The starting bid (=minimum offer) is € 94.956.796 – Offers at a lower price will not be accepted.
- The minimum bid increase is €100.000.
- €. 1.000.000 – minimum deposit to access the Data Room, this will be considered as a prepayment in the case of a successful acquisition or refunded.
- The procedure and the documentation are in Italian.
The Single Joint Lot that will be sold includes:
- BIO-ON Business Complex and in particular
- property complex located in the Municipality of Castel San Pietro Terme (BO), Via Legnana n. 1900, Loc. Gaiana;
- PHAs bio-plastic production plant located in the Municipality of Castel San Pietro Terme (BO), Via Legnana n. 1900, Loc. Gaiana;
- equipment, furniture and furnishings;
- patent portfolio and company information;
- brand portfolio, consisting of proprietary brands;
- equity investments;
- company information constituting the fermentation technology deriving from the “Research project for the realisation of plants suitable for producing bioplastics from agricultural crops”;
- registered movable property;
- PHA / PHB powder warehouse stocks and other stocks;
- pending contracts, including employment relationships;
- BIO-ON Plants Business Complex and in particular by:
- movable property consisting of: laboratory equipment, mechanical workshop equipment, electrical workshop equipment, various furniture and furnishings, various equipment, electronic office machines;
- PHA / PHB powder warehouse stocks and other inventories;
- pending contracts, including employment relationships.
The Court of Bologna has dedicated a website to the auction of Bio-on. The website can be found on the following link. Important documents can be downloaded at the bottom right of that website.
The index of the data Room
If you’re interested, I think you should …
- Get a team around you cos it’s going to be Rock and Roll
- Get an Italian lawyer / legal adviser (and legal translator) to go through all the documents and to represent yourself in Italy and the procedures.
- Check the validity of the patents from a legal, engineering and technology pov
- Get engineers involved
- Operation ability of the plant
- Can the plant be started easily? Do you need to make additional investment to launch it? How much more?
- Are the processes sound?
- Is the industrial equipment complete?
- Is the (feedstock) supply chain OK?
- Output capacity
- Find a bank in Italy (for the prepayments and funds transfer) etc
I think …. but due to legal reasons, I have to add that the following ….
The following is my personal opinion based on my personal intuition and the fruit of my imagination; I have seen no data, information or any indication to confirm the following…
…. there’s already an offer on the table.
I think that the company that buys Bio-on could become a PHA leader overnight. The plant is located in Italy (it could have been worse: Italian dolce vita, good food, nice weather, good life).
I’m thinking American Company, hedge funds, Asian or European chemical companies
The guys / team / company that can digest and process the whole shebang in less than 30 days are world champions and could turn this into a success story.
I think if you can buy it for less than € 150 Mln, you get yourself a deal!
Remember, you don’t have to wait 1 year to draw the plans and 2 year to build the plant. Its already there and it’s almost new, never used in the middle of Europe.
If you have any questions, you can contact me