Del Vecchio: From Shipowner to Potential Partner of The Italian Sea Group
The stock market crisis and uncertainties about business continuity make the Tuscan group a strategic asset for new investors.
The strong financial and corporate tension that is being experienced The Italian Sea Group, a group that owns several luxury yacht brands based in Marina di Carrara, could lead to a change in ownership given the interest of LMDV Capital—Leonardo Maria Del Vecchio's family office—in investing in premium Italian manufacturing. As Alliance News reports, a dossier has been opened on the Tuscan group.
The Italian Sea Group has come under pressure on the stock market, losing 55% in fifteen days due to unexpected additional costs on several orders. As announced by the shipbuilding group itself, a forensic due diligence exercise is underway, entrusted to KPMG, to investigate alleged irregularities committed by senior figures.
The stock's collapse could represent an opportunity for Del Vecchio to acquire a significant stake in the company, of which Giovanni Costantino is the majority shareholder and CEO.
In recent months, Leonardo Del Vecchio emerged as the new owner of the 72-meter Admiral, designed by Giorgio Armani of Admiral; a gigayacht built in Marina di Carrara and estimated to be worth over €100 million.
SUBSCRIBE TO FREE SUPER YACHT 24 NEWSLETTER
SUPER YACHT 24 IS ALSO ON WHATSAPP: JUST CLICK HERE TO SUBSCRIBE TO THE CHANNEL AND ALWAYS BE UPDATED
