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If a court approves, a newly formed Ferretti Group and Sanlorenzo joint venture will rescue Perini Navi from bankruptcy. The two fellow Italian yacht builders issued a statement earlier today. Specifically, they have formed a new company in which each has a 50-percent ownership stake. Through that new company, they wish to make an offerContinue Reading
The eight-year-old Below Deck television franchise shows no signs of stopping. If you’re a fan, set your DVR for Monday, March 1. Below Deck Sailing Yacht and Parisfal III start their second season that evening. Below Deck Sailing Yacht premiered stateside on the Bravo cable network in February 2020. The 177-foot (54-meter) Parisifal III madeContinue Reading
UPDATE, FEBRUARY 15, 2021: Yet additional suitors have stepped forward, following an Italian court declaring Perini Navi bankrupt in January. See this story, the latest development. There is a growing list of yacht builders publicly expressing interest. Previously, on February 5, Palumbo Superyachts and The Italian Sea Group each released statements. Individually, they would like toContinue Reading
Giancarlo Ragnetti, the founder of Perini Navi who went on to oversee the famed sailing-superyacht builder for three decades, died on November 8 in Viareggio, Italy, which he had called home for nearly as long. He was 74 years old. Born in Italy in the Marche area, along the Adriatic Coast, Ragnetti spent his entireContinue Reading
Two asset-management firms have their eyes on Perini Navi. It’s part of a larger joint venture focused on companies in need of restructuring and turnaround. The result may be Perini Navi receiving capital infusion from the duo. The companies are Arena Investors and Blue Skye Investment Group. Based in New York, Arena Investors is anContinue Reading
UPDATE, JULY 10, 2020: In revealing its quarterly financial results, Sanlorenzo says its exclusivity period with Perini Navi has expired. However, negotiations continue. Additionally, the famed sailing- and motoryacht builder has applied for continuity of business under Italian bankruptcy law, and is under the guidance of a judicial commissioner. Therefore, “Sanlorenzo reserves the right to evaluateContinue Reading