Watson Farley & Williams (“WFW”) advised UBI Banca on a €13.5m financing to Vime S.r.l. (“Vime”) for the 3.5 MW Alife photovoltaic plant in Campania, southern Italy.
The transaction involved the amendment of an existing financing and the provision of additional credit lines to Vime, as well as a demerger operation to be completed at a later date relating to a corporate reorganisation.
Formed in 2007 from the merger of Banche Popolari Unite and the Banca Lombarda e Piemontese banking groups, Milan-headquartered and listed UBI Banca is one of Italy’s largest banking groups and included on the blue-chip FTSE/MIB index. Vime is owned by Clere AG, a German investment and asset management company focussed on supporting medium-sized businesses specialising in environmental and energy technology.