Clifford Chance

Clifford Chance advises Deutsche Bank and SACE on loan to finance Africa's largest food production plant

Leading international law firm Clifford Chance advised Deutsche Bank and SACE on a €57 million export credit agency-backed loan to support local food production in the Republic of Angola. The facility will fund an export contract between Andreotti Impianti Spa (Italy) and local company Carrinho Empreendimentos SA (Angola) for the supply of a complete and ready to operate, fully automated soybean and sunflower crushing plant.

Construction of the plant will take approximately two years and is expected to create around 300 direct jobs and thousands of indirect jobs related to soybean and sunflower planting. Located in Lobito, the plant will be the largest of its kind in Africa and will be a valuable contribution to Angola's ongoing process economic diversification.

The cross-border Global Financial Markets team advising on the financing package included partner Leonard Cleland (London), counsel Filippo Tassoni (Milan), senior associate Michael Obiri-Darko (London), with support from trainee lawyer Alessandra Ravazzolo (Milan).