Perini Navi fails to secure bid for second time

Yves Le Marquand
By Yves Le Marquand October 4, 2021 09:23

Perini Navi fails to secure bid for second time

The auction for the Perini Navi shipyard has failed for the second time, with no offer having been received by any external party. The Italian shipyard has a reputation for the construction of sailing yachts and superyachts but it has bee struggling to secure its future after declaring bankruptcy back in February.

No bidders came forward for the shipyard and its assets during the first round of auctioning back in July. A number of potential bidders including the Ferretti Group and Sanlorenzo, declared the auction price too high. The initial price set at €62.5m was dropped to €53.5 million, but this has still been deemed too high by potential bidders.

On sale was the business complex formed by the shipyards of Viareggio and La Spezia, with a 100% stake in Perini Navi USA. The offer also includes a superyacht under construction, as well as existing employment contracts for the 75 employees and state-owned concessions.

During the recent Monaco Yacht Show, Ferretti Group, CEO, Alberto Galassi said the longer the auction continues, the less value the brand and its assets are worth. In Galassi’s opinion the base auction price outweighed the value of the brand name and that the amount of money needed to restart the company, “no matter its reputation, would be untenable”.

It will now be up to a judge to set a third auction date and to set another price for the value of the shipyard and its assets.

Yves Le Marquand
By Yves Le Marquand October 4, 2021 09:23

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