Italian Marine Group announced that it has acquired bankrupt luxury yacht builder Perini Navi for $80 million at a court-organized auction in Tuscany, Italy.
Italian yacht builders Ferretti Group and San Lorenzo had also offered to buy luxury sailing manufacturer Perini Navi, which was declared bankrupt last January.
The deal, financed with most of the IPO proceeds and through bank financing, will double the order intake for repairs and lead to new contracts for the construction of 90-130 meter motor yachts, the Italian Sea Group said in a statement.
Perini Navi had been auctioned twice before, in July and September, but no one had bid for it.
Giovanni Costantino, founder of The Italian Sea Group, expressed his satisfaction with the acquisition of Perini Navi and said, “We will increase the production capacity at the shipyard. We will double the yacht maintenance and repair capacity, and we will also start building 90-130 meter megayachts.”.
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