Watson Farley & Williams (WFW) advised Crédit Mutuel Impact and Bpifrance on an equity investment into French cargo sailing ship developer and operator VELA Sail For Goods (VELA). Other investors also took part including US-based 11th Hour.
The investment will help finance the construction of a trimaran cargo vessel to be built by shipyard Austal Philippines for lease to VELA.
Crédit Mutuel Impact and Bpifrance
The multi-disciplinary WFW Paris team that advised Crédit Mutuel Impact and Bpifrance was led by Corporate and M&A Partner - Thomas Rabain, assisted by Counsel - Anne-Kelly d’Amécourt and Associate - Thibaut de Toytot.
Partner - Laurence Martinez-Bellet advised investors on the review of the asset bank financing. Partner - Karine Audouze and Senior Associate - Amandine Racé assisted on employment law matters with Partner - Romain Girtanner, Counsel - Hélène Ibos, and Associate - Maximilian Cristescu advising on the tax aspects of the transaction. Chammas & Marcheteau acted as VELA’s legal counsel, with FieldFisher advising 11th Hour.
