Selected deals

Bird & Bird advised Intesa Sanpaolo and Banca Imi as purchasers of a portion of the original facilities granted by a pool of banks in favour of, respectively, Daunia Ascoli and Daunia Savignano, two companies active in the renewable energy sector. The facilities had been granted in order to finance a 53.5MW wind farm located in the municipality of Ascoli Satriano (Foggia, Apulia) and a wind farm having a capacity of approximately 78MW (later increased to approximately 83MW) located in the municipality of Savignano (Avellino, Campania).

Following the completion of the sale, Bird & Bird advised Intesa Sanpaolo and Banca Imi in auditing and amending the facility and the relevant financing documentation, in order to align the applicable financial conditions with market conditions and improve project revenues.

The Bird & Bird team, coordinated by partner Pierpaolo Mastromarini, head of the energy and utilities team in Italy, included senior associate Michele Arruzzolo, who acted as project manager, and associates Vincenzo Maria Giorgio and Teresa Florio for project finance aspects. The legal due diligence process was coordinated by senior associate Daniele Pompei who also dealt with corporate, real estate and project contracts aspects, while regulatory matters were overseen by partner Simone Cadeddu (head of the administrative law department) together with senior associates Jacopo Nardelli and Enrico Maria Curti.

L&B Partners Avvocati Associati, with partner Michele Di Terlizzi and senior associate Andrea Semmola, advised 3New & Partners, who acted as one of the sponsors.

The notarial aspects of the transaction were handled by Notary Public Andrea Positano De Vincentiis for Daunia Ascoli and Notary Public Silvia Giulianelli for Daunia Savignano.

Back