Watson Farley & Williams (“WFW“) has advised BPM S.p.A. (Gruppo Banco BPM – “BPM”) and Mediocredito Centrale S.p.A. (“Mediocredito”) on a financing of up to €18.2m to Marnavi Chem S.r.l. (“Marnavi Chem”), for the construction of a chemical tanker at Chinese shipyard Shuangliu Wuchang Shipbuilding Industry Co. Ltd.
Marnavi Chem is part of the Naples-based Marnavi Group, which has been active in shipping industry since 1910, and is also part-owned by SIMEST S.p.A., a private equity and venture capital investment management company specialising in the development and promotion of Italian enterprises overseas.
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.
Mediocredito is an Italian bank headquartered in Rome, which promotes Italy’s economic development by supporting companies through a broad range of financing solutions.
Marnavi S.p.A. and Marnavi Chem S.r.l. were advised by lawyer Giorgio Filippi.