The investment group of the famous Italian fashion house has acquired a large stake in the shipbuilder Italian Sea Group.
The Italian Sea Group said it has secured financial support from Giorgio Armani and Belgian pharmaceutical firm Marc Coucke as it prepares for a public offering of its shares on the Milan Stock Exchange. The exact numbers were not disclosed, but it is known that investors will receive 15% shares after the IPO.
During the IPO, the Italian shipyard will offer about $61 million worth of shares, and its holding company GC Holding SpA will also sell the existing shares. At the same time, according to a statement from the company, controlled by CEO and founder Giovanni Costantino, GC Holding will remain the majority shareholder of the Italian Sea Group.
The capital received from the IPO is planned to be used to build new superyachts up to 100 meters in length. The group also plans to acquire other European shipyards as part of the expansion. For example, there is interest in taking over a well-known brand such as Perini Navi, experiencing serious difficulties due to the coronavirus pandemic.
The Italian Sea Group is the owner of famous brands such as Admiral, Tecnomar and Tecnomar for Lamborghini 63. The company's recent creations include the 55m Geco and the 65m Life Saga. In total, since its foundation in 1966, this company has built 183 Admiral yachts and 289 Tecnomar ships. The company's assets include the production facilities of NCA Refit, which include, among other things, two of the largest dry docks in the Mediterranean, capable of accommodating vessels up to 200 meters in length.