The Blackstone Group L.P. (NYSE:BX) signed a preliminary agreement to acquire 35% stake in Kryalos Investments Srl from Paolo M. Bottelli on December 5, 2018. The governance of the Kryalos will remain unchanged and, therefore, Andrea Amadesi will continue to play the role of Chairman of the Board of Directors and Paolo M. Bottelli will retain the position of Chief Executive Officer. Blackstone has no right of appointment on the Board of Directors, in the board of statutory auditors or in the management of the company. The transaction is subject to prior approval by the Bank of Italy and is expected to complete within ten days from Bank of Italy's approval. Bruno Gattai, Federico Bal and Jacopo Ceccherini of Gattai, Minoli, Agostinelli & Partners acted as legal advisors to Paolo M. Bottelli. Wheatly MacNamara, Sam Charlton, Alex Morris, Spencer Patton, Harris Kaufman, Rony Rothken, Meredith Jones and Kelli Rivers of Simpson Thacher & Bartlett LLP and Domenico Fanuele, Emanuele Trucco and Emma Berdini of Shearman & Sterling Italy acted as legal advisors to The Blackstone Group. Roberto Della Vecchia and Emanuele Marrocco of Carbonetti dealt with the regulatory aspects of the transaction. Vismara Tentardini Studio acted as legal advisor to Kryalos. Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisor to Kryalos.

The Blackstone Group L.P. (NYSE:BX) completed the acquisition of 35% stake in Kryalos Investments Srl from Paolo M. Bottelli on May 17, 2019. Paolo Bottelli was confirmed as Chief Executive Officer of Kryalos sgr along with Directors Arcangelo Magni , Vittorio Vismara and Domenico Aiello. Paolo Bottelli was appointed as President of Kryalos Investments while Adam Shah, Galeazzo Pecori Giraldi, Stefania Scocca and Paolo Villani have been appointed as Directors. The acquisition was finalized following the approval of the transaction by the Bank of Italy.