The Italian Sea Group to acquire Perini Navi for $91m.

The Italian Sea Group, a global operator in the luxury yachting industry, agreed to acquire Perini Navi, an Italian shipyard based in Viareggio, Tuscany, for $91m. "I am very proud of this operation. We wanted to push forward with the investment, but we have approached the auction with absolute determination to acquire all of the asset considering our consolidated competence and the new contracts, in particular in the segment of large sailing yachts. The new production spaces will allow us to increase incoming order for the future in a very dynamic segment, as proven by the two orders for sailing yachts that we signed in December. We are therefore confident to have made the right decision, driven by an incoming order that has exceeded expectations by 50%," Giovanni Costantino, The Italian Sea Group Founder and CEO.