Top Italian firm Chiomenti Studio Legale is losing its head of international finance in Milan to Allen & Overy (A&O).
The move comes just weeks after merger talks between Chiomenti and Freshfields Bruckhaus Deringer took place.
Franco Vigliano, who is also the head of the firm’s project finance and infrastructure finance group, is moving along with partner Catia Tomasetti to increase A&O’s Milan projects group to three partners. They join Paolo Esposito, another one of the leading project finance lawyers in Italy.
Head of A&O’s global projects group Graham Vinter says: “We believe that there’ll be significant projects activity in continental Europe over the coming years.”
Vigliano has acted on some of the biggest project financings in Italy: he acted as counsel in the project financing of the Centro Energia-Ferrara and Serene power projects, several waste-to-energy and biomasse projects, the integrated water system of the Arezzo Province, and a multiplex cinema for Warner Village. He also does M&A work, with one of his biggest deals being the Coca Cola Company’s European reorganisation.
Tomasetti does project finance work with a specialisation in public private partnerships. She is admitted to the Italian bar as well as being English-qualified.
Milan corporate partner Roberto Casati says: “Project finance is growing at an enormous pace right across the globe, and Italy has enormous potential in this area. Clients will need experienced Italian projects lawyers to advise on their Italian projects.”
Italy is the third largest market in Western Europe for project finance, behind the UK and Germany. A new governmental unit has recently been established to promote public private partnerships
On Italian projects, A&O recently advised the banks on the Euro2.4bn (£1.45bn) Wind Telcomunicazioni SpA reorganisation.