Perini Navi, S.p.A., Italian builder of such iconic sailing yachts as The Maltese Falcon, announced it is “undertaking a procedure aimed at restructuring the company’s financial indebtedness through debt restructuring.“ The Italian newspaper, Milano Finanzo, reported that the board of directors of the Perini Navi were filing for bankruptcy.
Italian Motoryacht builder, Sanlorenzo S.p.A., is evaluating a possible acquisition of share capital of Perini Navi and has obtained an exclusivity period in order to carry out the necessary analysis, from the shareholders Fenix S.r.l., a company owned by the Tabacchi family and Lamberto Tacoli.
Perini Navi is currently owned by the Tabacchi family and Lamberto Tacoli, as well as indirectly by Fabio Perini. Upon completion of the transaction, it is envisaged that Perini Navi will be majority-owned by Sanlorenzo.
The transaction being evaluated is subject to satisfactory outcome of the analysis and verifications that have just begun, to binding agreements being reached between the parties and to various conditions precedent.
Perini Navi, a historic brand founded in 1983 by Fabio Perini, is a world leader in the construction of sailing boats over 130-feet/ 40 meters in length. Sanlorenzo is a leading builder of motor yachts—different sectors, business dimensions and paths, sharing the same founding values, represented by a limited number of yachts produced each year, with a unique design, custom-made with the utmost quality and intended for an experienced and sophisticated international clientele.
The transaction would therefore be in line with the Sanlorenzo business model, which has proven and is proving its effectiveness, and would enable Sanlorenzo to expand its business perimeter and further consolidate its presence in the superyacht sector.
The transaction will be investigated by the parties during a period of exclusivity with full sharing and harmony. This will enable Sanlorenzo to assess possible costs and synergies and evaluate any interest in concluding the transaction.
Sanlorenzo has three divisions: Yacht Division— composite yachts of a lengths between 78-feet/ 24 meters and 124-feet/ 38 meters; Superyacht Division— superyachts in aluminum and steel of between 130-feet/40 meters and 223-feet/ 68 meters; Bluegame Division —sport utility yachts of lengths between 42-feet/13 meters and 72- feet/ 22 meters .
Perini Navi has launched 63 yachts to date, including 59 sailing yachts and 4 motoryachts. Perini Navi, founded in 1983 by Fabio Perini, whose vision was to revolutionize sailing with proprietary technology for sail handling.
