Norton Rose Fulbright advises on Italian ship financing

Press release - Business April 2019

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
felicia.kohn@nortonrosefulbright.com

Cristiana Santilli, Business Development Executive, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941
cristiana.santilli@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.

Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.