Watson Farley & Williams (WFW) advised Navigazione Montanari S.p.A. (Navigazione Montanari) on acquiring the chemical product tanker, Astella, renamed Valderice.
WFW also acted for Intesa Sanpaolo S.p.A. (Intesa Sanpaolo) as a lender on loan, backed by Italy’s ECA SACE's Garanzia Futuro, granted to Navigazione Montanari to recapitalise the funds used for the purchase partially.
Valderice
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 pioneering operators in these sectors.
Advising team
Intesa Sanpaolo is a major 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.