Milano Finanza today reported that Sanlorenzo, one of the largest cruise ship builders in Italy, acquired another Italian builder, Perini Navi. This acquisition will give Sanlorenzo one of the strongest voyages in the world superyacht ship brand, while providing financial stability for Perini Navi.
The newspaper reported that Perini Navi would restructure her debt under article 182 of Italian law. After that happens, a new holding company will be established.
Sanlorenzo will control about 70 percent of the shares, according to the newspaper, while donating $ 33 million (30 million euros) to finance operations. The Tabacchi family, who signed an agreement in 2018 to acquire a 49.9 percent stake in Perini Navi, will have a 30 percent stake in the new company, while donating $ 11 million (10 million euros) for operations.
Perini Navi, who has built famous superyachts sail like 289-feet Maltese Falcon and 197-foot Seven, Has published financial problems since the Great Recession. Nevertheless, the brand continues to attract many followers. At the Monaco Yacht Show last September, the company reported an order book valued at $ 176 million (€ 160 million), with seven cruise ships being built.
Sanlorenzo has developed aggressively over the past decade, having submitted 103 superyacht projects during that time. Prior to Covid-19, it was scheduled to send 24 other cruise ships this year. The Italian builder went public in 2019. For the past year, he reported his strongest financial year, with net sales of $ 500 million (€ 455 million), up 39.3 percent from 2018. The company has expanded its product line to larger cruise ships and also acquired the Bluegame brand in 2018.
Sanlorenzo, who did not immediately respond to requests for comment about the acquisition, said in March that it had a deposit of more than $ 549 million (€ 500 million). Perini Navi will give it another type of yacht for the supeyacht segment.
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