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The Italian Sea Group: 47 millions to save Perini

The Italian Sea Group takes the fifth gear and, not caring about the previous auctions, moreover all gone desert, presents an important and irrevocable proposal of purchase.

There are in fact 47 million euros that Giovanni Costantino’s company makes available to the deal. A decision that also concerns the real estate assets and the superyachts under construction but that, more importantly, also “contains” the future of the employees and the know-how that they represent at their best in the world.

A proposal that we report below in full and that we hope the Court of Lucca will take into careful consideration.

The passage of time certainly does not play in favor of the future of this company, it only goes in favor of an evident and certain progressive depreciation of what is under discussion.

The Italian Sea Group S.p.A.: Irrevocable proposal for the unitary corporate complex of Perini Navi S.p.A.’s Bankruptcy.

Marina di Carrara, October 26th, 2021. The Italian Sea Group S.p.A. (“TISG” or the “Company”), global operator in the luxury yachting industry, announces that it has presented, on today’s date, an irrevocable proposal for the acquisition of the entire corporate complex of Perini Navi S.p.A. Bankruptcy to the Judge Delegate of Lucca’s Court of Law.

In particular, the proposal relates to the industrial and real estate assets of the shipyards in Viareggio and La Spezia, the building complex in Pisa, one vessel under construction, project n. 2369, trademarks and patents, the social participation (100%) of Perini Navi USA Inc. and the existing legal relationships with employees and third parties.

The Price offered by The Italian Sea Group to the Perini Navi S.p.A. Bankruptcy procedure is equal to Euros 47.000.000,00 (forty-seven million/00).

The Italian Sea Group – which, in July 2021, had already confirmed its interest in Perini Navi, but only at values compatible with value creation for the company and its Shareholders – formulated an economic offer accompanied by a precise industrial plan and a plan to revive the prestigious Perini brand.

Such operation demonstrates once more TISG’s firm intention to increase the spaces dedicated to new constructions, as well as the resolve to further expand its reference market, strengthening positioning in the sail yachting world and bringing into the Group another internationally renowned brand such as Perini Navi.

The Italian Sea Group

The Italian Sea Group is a global operator in the luxury yachting industry, active in the
reconstruction and refit of motor yachts and sailing yachts up to 100 meters. The company, led by
the Italian entrepreneur Giovanni Costantino, is active in the market with its brands Admiral,
renowned for its exquisite and elegant yachts, and Tecnomar, recognized for the sportsmanship,
avant-garde design, and high-performance of its yachts; the company also has a business unites
which handles repairing and refit services with a focus on yachts and mega yachts with a length
exceeding 60 meters.

Luca D'Ambrosio

Editor-in-Chief and Journalist. With more than 30 years spent in the publishing industry and 20 sailing and racing with his boats Luca have a very deep working nautical knowledge.

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