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20 April – LAWFUEL – The Law News Network – Linklaters has advised An…

20 April – LAWFUEL – The Law News Network – Linklaters has advised Antwerp Gateway NV, the project company, and its shareholders, P&O Ports Europe, P&O Nedlloyd Holdings, COSCO Ports and Duisport Duisberger Hafen, on the €143 million project financing of a container terminal to be situated on the east bank of the Deurganckdock in the Port of Antwerp, Belgium. The new terminal marks a significant expansion of the Antwerp Port and further investment in the European ports sector for Antwerp Gateway’s shareholders.

This transaction follows a series of recent project finance deals in the ports sector on which Linklaters has advised including the US$1 billion Korea Pusan Newport project financing and the financing of a new maritime container terminal in the port of Malaga, Spain, as well as a number of ports tied to particular facilities in the natural resources sector (in particular mining and LNG).

Projects partner Andrew Jones who led the Linklaters team said;

“Strategically the Port of Antwerp is well placed to take advantage of the significant increases in container traffic that have been seen in recent years, and the combination of strong traffic with the calibre of the shareholders makes this a very attractive transaction.

This project financing represents one of the few ports projects to be financed on a project finance basis in Europe in recent years and further demonstrates Linklaters’ strength and experience in the ports sector worldwide.”

The Linklaters team included Andrew Jones, Harvey Weaver, Stephen Le Vesconte, Deborah Tan and Natalie Davey.

Other advisers included Liedekerke (Belgian law advisers to the project company), Allen & Overy (legal advisers to the lenders) and various in-house and external counsels for the shareholders/sponsors.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.