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Bankcrupcy for Perini Navi

Perini Navi group is an Italian shipbuilding company specializing in the construction of luxury sailing and motor yachts. The company was founded in 1983 by Fabio Perini, who is now the majority shareholder.

After the maelstrom generated by the bankruptcy announced for Perini Navi almost a week ago now, prospective suitors for the company at auction have appeared. One of the prime contenders is Palumbo Superyachts, owner of the international brands ISA Yachts, Columbus, Mondomarine, Extra Yachts and Palumbo SY Refi, with five shipyards distributed between the offices of Ancona, Savona, Naples, Marseille and Malta, fresh from investment in a service point destined for the Central America and Caribbean area. “We are experts in acquisitions,” the company said. Not far from Versilia, in Savona, the Palumbo Group (founded in 1967 and managed by the Neapolitan entrepreneur Antonio and his sons Giuseppe and Raffaele)  was granted stewardship of the bankrupt Mondomarine in 2018 by means of a company lease, a  facility that could also be used by the curator of Perini Navi.  It is an interesting turn around in the economy when the Neapolitans come to save the bacon of the North,

Today Tuscany is of interest to the Palumbo Group which intends – as stated in the press release – “to verify if the conditions exist to participate in the auction procedure and therefore to the acquisition of the Perini Navi company complete with the brands and production sites of Viareggio and La Spezia . In short, the whole Perini Navi structural organization, and no cherry-picking. This element will then influence the company’s potential value and the decisions made by the bankruptcy trustee that determine how the auction will go.

The other suitors include Sanlorenzo – who had already come forward last May, at the time when the request for an unconditional takeover of Perini Navi was presented. As the bankruptcy hearing approached, it seemed that Sanlorenzo could become the sole protagonist in the affair. This changed when the rumours started that the value of Perini Navi would take into account the resale value of the boats in the shipyard. The  Ferretti Group threw their hat into the ring, followed by The Italian Sea Group”, owner of shipyards in nearby Carrara.

It is now a four-horse race.

Happy days

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