Palumbo Superyachts joins race for Perini Navi assets

Palumbo Superyachts has become the latest superyacht yard to openly declare its interest in the assets of Perini Navi.

In a statement, the yard announced “its interest in acquiring the assets of Perini Navi” after the iconic Italian brand was declared bankrupt by an Italian court last week.

“With a view to steady expansion which began years ago and led to the acquisition of important brands and facilities, Palumbo Superyachts intends to verify the conditions to participate in the auction procedure for the acquisition of the Perini Navi brand and production facilities of Viareggio and La Spezia,” the statement said.

It comes after the Ferretti Group, Sanlorenzo and The Italian Sea Group all declared their interest in acquiring Perini Navi’s assets.

"TISG aims to carefully assess and verify, once the insolvency assets will be identified, whether the conditions to take part in the competitive auction procedure exist," The Italian Sea Group said in a statement.

The yard added that it “believes that maintaining in Italy a historic brand such as Perini Navi, the leading player of luxury sailing worldwide, represents a strategic interest for Italy itself.”

Perini Navi announced last year that it had reached an agreement with private equity company Blue Skye Investment Group to restructure its €100 million debt.

The court in Lucca gave the company until this year to present the final restructuring plan, but none was forthcoming, it is understood, leading the court to declare the shipyard bankrupt.

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Source: Boat International