DLA Piper advises on provision of capital for acquisition of three container terminals in Italy

DLA Piper has advised Pricoa Private Capital, the private capital branch of PGIM Inc., on the provision of long-term financing worth EUR100 million to Fair Market Value Capital Partners UK Limited and TD Asset Management, to acquire a 28% stake in PSA Italy, a port operator and supply chain company, from PSA International. The financing has been provided through a EUR100 million fixed rate senior secured note issuance.

PSA Italy owns and operates three container terminals in Italy including the PSA Venice-Vecon in Venice, PSA SECH in the historic port basin of Genoa, and PSA Genova Pra’, one of the most important gateway terminals in the country.

A multi-jurisdictional team of partners from DLA Piper’s Finance practice worked on the transaction and was led by partners Derwin Jenkinson, Charlotte Lewis-Williams, and Tony Lopez based in the firm’s London office. Partners Luciano Morello and Francesco Ferrari advised on aspects of Italian law, Caroline Hoste, advised on Belgian law, while Xavier Guzman advised on aspects relating to Luxembourg law.

The partners were supported by counsel, Hugo Ahlner (London), Hélène Van Steenberge (Brussels), lawyers, Luigi Mula (Milan), Martina Antoniutti and Chiara Campagna (both Rome), senior associates Yann Zellet and Berta Blasco (both Luxembourg) and associates Fanny Denoel and Irene Tamés de la Sierra (both Luxembourg), Tasha Chia (London), Achille Lemey and Wout Priem (both Brussels).