Global law firm Norton Rose Fulbright has advised Italian bank Banco BPM as lender and SACE Simest (Cdp Group) as guarantor on financing for the Italian ferry company Caronte & Tourist (Caronte) in its acquisition of a Ro Pax vessel called Cartour Epsilon.
This transaction supports Caronte’s business plans to expand internationally. Caronte’s core business is providing lifeline ferry services between Sicily and the Italian mainland across the Strait of Messina and between Sicily and the minor Sicilian islands. The acquired ship will remain part of the Irish Ferries fleet until at least November 2020.
Gennaro Mazzuoccolo, the Norton Rose Fulbright Milan-based banking partner who led the team, commented:
“The importance of new investment to support Southern Italy’s maritime sector cannot be underestimated.”
Caronte’s growth potential has increased due, in part, to an injection of capital provided by the UK-based investment fund Basalt Infrastructure Partners (Basalt), which purchased a 30 per cent interest in Caronte in January 2019.
For further information please contact:
Felicia Kohn, Senior Business Development Manager, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941
Cristiana Santilli, Business Development Executive, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941
Notes for editors:
Norton Rose Fulbright
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