Norton Rose advises on EIB's €30m SACE-backed financing to Grimaldi Group
13 July 2012
Norton Rose Studio Legale has advised SACE and the European Investment Bank (EIB) in relation to a financing of €30 million provided by EIB to Grimaldi Group to purchase a ship, "Eurocargo Livorno", which was built by Korea's Hyundai Mipo of Ulsan. The transaction is part of the project "Motorways of the Sea", promoted by the European Commission and supported by EIB, which is aimed at reducing congestion on roads due to the transfer of freight from road to sea as well as reducing air pollution.
Eurocargo Livorno is a technologically advanced, low energy consuming ro-ro (roll-on/roll-off) unit. The ship was delivered to the Grimaldi Group on the 28th of June 2012 and will be used primarily for transport in the Mediterranean Sea.
The Norton Rose Studio Legale team, led by partner and shipping finance expert Gennaro Mazzuoccolo, assisted SACE and EIB in all aspects of the transaction. Other Norton Rose Studio Legale team members included Mario Rondinella.
For further information please contact:
Felicia Kohn, senior business development manager, Norton Rose Studio Legale
Tel: +39 02 8635 941; Mob: 39 339 758 1226
Notes for editors:
Norton Rose Studio Legale is part of Norton Rose Group, a leading international legal practice offering a full business law service to many of the world’s pre-eminent financial institutions and corporations from offices in Europe, Asia, Australia, Canada, Africa, the Middle East, Latin America and Central Asia.
Norton Rose Group is a leading international legal practice. We offer a full business law service to many of the world’s pre-eminent financial institutions and corporations from offices in Europe, Asia, Australia, Canada, Africa, the Middle East, Latin America and Central Asia. Knowing how our clients’ businesses work and understanding what drives their industries is fundamental to us. Our lawyers share industry knowledge and sector expertise across borders, enabling us to support our clients anywhere in the world. We are strong in financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and pharmaceuticals and life sciences.
We have more than 2900 lawyers operating from offices in Abu Dhabi, Almaty, Amsterdam, Athens, Bahrain, Bangkok, Beijing, Bogotá, Brisbane, Brussels, Calgary, Canberra, Cape Town, Caracas, Casablanca, Dubai, Durban, Frankfurt, Hamburg, Hong Kong, Johannesburg, London, Melbourne, Milan, Montréal, Moscow, Munich, Ottawa, Paris, Perth, Piraeus, Prague, Québec, Rome, Shanghai, Singapore, Sydney, Tokyo, Toronto and Warsaw; and from associate offices in Ho Chi Minh City and Jakarta.
Norton Rose Group comprises Norton Rose LLP, Norton Rose Australia, Norton Rose Canada LLP, Norton Rose South Africa (incorporated as Deneys Reitz Inc), and their respective affiliates.