Global legal practice Norton Rose Fulbright has advised Credit Agricole Corporate and Investment Bank (CACIB) on the sale and leaseback of three car carriers from Hoegh Autoliners, a leading global provider of roll on roll off (Ro/Ro) vehicle transportation services.

The three car carriers have a combined value of US$167m and were purchased by a CACIB subsidiary, financed by CACIB, and leased back to Hoegh Autoliners.

This is one of a series of sale and leaseback transactions Norton Rose Fulbright’s global shipping practice is advising on, including advising French ship-owner Bourbon on its “Transforming for beyond” action plan under which Bourbon is undertaking the sale and leaseback of 51 vessels with ICBC Financial Leasing.

London based global co-head of shipping, Simon Hartley led the Norton Rose Fulbright team, assisted by Kelli Bodal Hansen and Helen Davies. Partner Matthew Hodkin advised on the tax aspects of the transaction, and Paris shipping partner Christine Ezcutari advised on the French law aspects of the transaction, assisted by Philippe Monfort. Paris tax partner Laurence Toxe also advised on the transaction.

Hoegh Autoliners was advised by Schjodt in Norway. The transaction completed on June 30 2014.