Having acquired a stake in Wider five years ago, Asian cruise-ship giant Genting Hong Kong now owns all of the yacht yard.
As of this writing, Genting Hong Kong has not issued a press release or other formal confirmation of the purchase. However, upon our inquiry, Wider sent us the following statement:
WIDER confirms the departures of CEO Tilli Antonelli and FD Paolo Favilla, with the acquisition of 100% of the company by Exa Limited, a wholly owned subsidiary of Genting Hong Kong Limited, on 11th of April 2017. WIDER recognizes and thanks them for their tremendous vision and passion for the business and wishes them all the best in their future endeavours.
Based in Ancona, Italy, Wider Yachts opened its doors in 2010 with the above-referenced Antonelli and Favilla at the helm. Antonelli is particularly well-known in yachting circles. He established the Pershing brand in 1985, later selling it to the Ferretti Group. Antonelli and Favilla forged a partnership between Wider and Exa in 2012. Specifically, Exa purchased 50 percent, with Antonelli and Favilla holding the other half.
In the two years leading up to that, Wider had launched its first project, the Wider 42. The day cruiser gained renown for its central deck area that expanded outward at the press of a button. Wider had also unveiled plans for its first superyacht, the Wider 150. She, too, gained renown for featuring three folding platforms at the transom, plus additional balconies on deck. The design (since copied by other builders) was brand new to the market. Tan Sri Lim Kok Thay, the owner of Exa, stated in 2012, “I decided to back Wider as I was impressed both with its course of development and its ability to establish itself on the international market with a completely innovative, technologically cutting-edge product despite the difficult economic situation.”
Through its Exa subsidiary, Genting Hong Kong primarily focuses on cruise ships. However, it also has other leisure, entertainment, and hospitality assets. For example, Genting Hong Kong owns Lloyd Werft, the German shipyard behind the massive megayacht Luna. Furthermore, it has equity in U-Boat Worx and Grand Banks Yachts.
Wider states that its immediate focus is completing Bartali, the Wider 150. While Wider built the megayacht on spec, it sold her late last year to Canadian buyers. They requested changes to better suit their preferences, which Wider is wrapping up. The shipyard plans to hand Bartali back to them in June. In addition, construction continues on the first Wider 165, a.k.a. Project Cecilia. She, too, is a spec project, set for completion early next year.
Leave a Reply