Investment firm NB Renaissance to buy Italian footwear maker U-Power

MILAN (Reuters) - Investment firm NB Renaissance said on Friday it had signed a binding agreement to acquire 100% of Italy's U-Power which makes protective shoes and boots for workers and other functional clothing products.

The deal gives the family owned group an enterprise value of around 800 million euros, two sources close to the matter said.

Under the agreement U-Power's owner Franco Uzzeni will reinvest part of the sale proceeds to get a minority stake in the company.

NB Renaissance was assisted by Houlihan Lokey, Intesa Sanpaolo, Banca Akros and BNP Paribas as financial advisors and AlixPartners as strategic advisor.

Franco Uzzeni was assisted by Lazard and UniCredit as financial advisors, BCG as strategic advisor.

(Reporting by Elisa Anzolin; Editing by Keith Weir)