Osborne Clarke advised Cassa Depositi e Prestiti S.p.A (CDP) in relation to the grant in favour of Raffineria di Milazzo S.c.p.A. of a loan valued at 50 million euro for cutting-edge works to adapt the company's tank fleet to the best environmental and paving standards for the relevant basins.
Raffineria di Milazzo S.c.p.A. is a company operating in the Italian and international refining sector for the production of fuels and raw materials for petrochemicals and is one of the most complex refineries in Europe, able to receive a wide range of raw materials and to process approximately 10 million tons per year.
The financing granted by CDP is destined, in particular, to support part of the financial needs of Raffineria di Milazzo S.c.p.A. relating to new investments provided in its business plan to improve the energy efficiency of the refinery located in Milazzo and to ensure its compliance with Italian environmental laws.
Osborne Clarke's team was led by partner Andrea Pinto, head of the banking & finance department in Italy, with lawyer Alessandro Carta Mantiglia Pasini. The legal aspects of the operation were managed by CDP with an internal team composed of Antonio Tamburrano, Business & financing legal manager, Maurizio Iaciofano, Enterprise, infrastructure and financial institutions legal manager, and Andrea D’Agostino.