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Stibbe advises Dutch State on support to Royal IHC

Stibbe advises Dutch State on support to Royal IHC

Stibbe advises Dutch State on support to Royal IHC

20.05.2020 NL law

Stibbe is advising the Ministry of Economic Affairs and Climate Policy on a short-term bridging loan and guarantee facility provided to the leading Dutch maritime player Royal IHC and on the acquisition of Royal IHC.

On 30 April 2020 it was announced that a Heads of Agreement has been reached between Royal IHC with a leading maritime industry consortium (consisting of HAL Investments, Ackermans & van Haaren, MerweOord and Huisman) and the existing syndicate of banks of Royal IHC for the acquisition and refinancing of IHC Merwede Holding B.V.

The Heads of Agreement is made possible by a short-term bridging loan and guarantee facility from the Ministry of Economic Affairs and Climate Policy, and an export credit insurance contribution from the Ministry of Finance. In this way the State supports the preservation of high-quality technology and employment for the Netherlands.

 

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