WFW advises Dea Capital on sale of five cargo vessels to Navigazione Montanari26 May 2022
All five vessels will fly the Italian flag and operate in the oil, product, chemical tanker and bulker segments.
All five vessels will fly the Italian flag and operate in the oil, product, chemical tanker and bulker segments.
Banco BPM is Italy’s third largest retail and corporate banking conglomerate, formed in January 2017 through the merger of Banco Popolare and Banca Popolare di Milano.
One of the loans is guaranteed by a SACE guarantee on the basis of the liquidity decree (no. 23/2020) under the “Garanzia Italia” programme.
The ship, which was acquired by Megaride in 2021 as part of a restructuring agreement with Perseveranza S.p.A. di Navigazione group, was sold at her market price, enabling DeA to exit the dry-bulk sector.
This is the first time FINAV Group have refinanced a vessel and represents a fundamental first step in the reorganisation and optimisation of their group financial structure.
DeA Capital is Italy’s leading independent alternative asset management platform, with an extensive portfolio of assets under management and offering a wide range of products and services to investors worldwide.
Valiant Lady is the second of four cruise ships ordered by Virgin and is expected to be based in the Mediterranean by 2022.
WFW has advised a consortium of banks on a €31.5m loan to Fratelli Cosulich to finance the construction of an 8,200mc gas carrier.
The six-year loan is backed by Italian export credit agency SACE through its “Garanzia Italia” facility and was partly used by Euromont for the purchase of two product tankers.
The firm was awarded ‘Law Firm of the Year 2021’ in the Transport sector while Partner Furio Samela was also named ‘Lawyer of the Year 2021 – Transport’.
Italy Partner Furio Samela has written a feature piece on Italy’s shipping finance market for online Italian magazine Shipping Italy as part of the publication’s overview of the industry over past year.
The Eco Barcelona is the second unit of the Grimaldi Green 5th Generation (GG5G) class and can transport over 7,800m of rolling goods, equivalent to circa 500 trailers.