International law firm Watson Farley & Williams (“WFW“) advised Iccrea Bancaimpresa S.p.A. (“Iccrea”), the corporate banking arm of Credito Cooperativo, on two financings for companies operating in the maritime sector that are part of Greece’s Zouros Group.
The first financing was provided to Leon Z Maritime Company, Panther Z Maritime Company and Thalassa Z Maritime Company and will be used to refinance said companies’ financial exposure and meet general corporate needs.
The second financing was provided to Foteini Z Maritime Company to finance the acquisition of the AHT Victory towboat.
Founded in in the early 1980s, the Zouros Group is headquartered in Greece’s second city of Thessaloniki and comprises diverse shipping companies, primarily owners and operators of large fleets active in offshore and port supply.
The WFW Italy advising Iccrea team was led by Finance Partner Francesco Dialti, assisted by associates Federico Tropeano, Giorgia Gentilini, Emanuele Caretti. Counsel Giuseppe Franch advised on the tax aspects of the transaction.
Francesco commented: “We are very pleased to have successfully advised such longstanding and valuable client as Iccrea, with whom we worked extremely closely on this matter. That they chose WFW to advise them is further evidence of our market-leading position in the provision of legal services to the maritime sector”.