Island Global Yachting in Joint Venture With FAYAT
December 23, 2022
Cleary Gottlieb represented Island Global Yachting LLC (IGY), a global leader in the acquisition, management, and servicing of luxury-yacht marinas, in its joint venture with FAYAT S.A. (FAYAT), one of France’s leading construction and public works companies, for its investment and operation program in the Cannes’ old port marina (Marina du Vieux Port de Cannes).
The joint venture takes place following the award of the 30-year concession contract to the consortium formed by IGY and FAYAT for the operation, development, and modernization of the Cannes’ Old Port.
IGY owns the world’s leading marina network with a global portfolio of upscale yachting destinations, serving more than 8,000 annual clients with 23 marinas in 13 countries.