Alfa Gomma’s CEO, ICG Said to Partner on €1 Billion Buyout Plan

Alfa Gomma SpA’s chief executive officer has teamed with asset manager ICG Plc to prepare a joint offer for the Italian industrial group that could value it at more than €1 billion ($1.2 billion), according to people familiar with the matter.

Enrico Gennasio, who owns a 50% stake in Alfa Gomma, would remain CEO as part of the proposal, said the people, who asked not to be named as the plan isn’t public. London-listed ICG would co-invest alongside the CEO as part of a court-supervised process to stabilize governance and secure the firm’s ownership.