Watson Farley & Williams (“WFW”) advised Navigazione Montanari S.p.A. (“Navigazione Montanari”) on the acquisition of the chemical product tanker Astella, now renamed Valderice.
WFW also acted for Intesa Sanpaolo S.p.A. (“Intesa Sanpaolo”) as a lender on a loan, backed by Italy’s ECA SACE’s Garanzia Futuro, granted to Navigazione Montanari to partially recapitalise the funds used for the purchase.
The Valderice, built in South Korea in 2011 at the Hyundai Mipo Dockyard Co. Ltd., is currently registered in the International Ship Register of the Trieste Maritime Department.
Founded in 1889 and headquartered in Fano, Italy, Navigazione Montanari specialises in the transport of products for the oil and petrochemical sectors and counts among its clients the leading operators in these sectors.
Intesa Sanpaolo is the leading bank in Italy, with a strategic international presence spanning retail, corporate and asset management.
The WFW Maritime Italy team that advised Navigazione Montanari and Intesa Sanpaolo was led by Partner Furio Samela, assisted by Associate Sergio Napolitano and Senior Associate Antonella Barbarito on the acquisition and financing respectively.
