Tisg, still suspended on the stock exchange, awaits a hearing in Florence on Wednesday
The Court of Florence evaluates the offer of Sri Global Limited and starts the relaunch phase for the nautical group.
Quick Look
- Italian Sea Group remains suspended on the stock exchange pending the hearing of the Court of Florence on 11 November.
- The relaunch phase is being prepared between Sri Global Limited and Azimut-Benetti for the acquisition of the nautical group.
AI-generated summary
Why It Matters
Italian Sea Group has presented an application for a preventive composition with indirect continuity at the Court of Florence.
Italian Sea Group is still suspended on the stock exchange since 3 November, after the board of directors indicated as the starting price the binding offer of 220 million from the investment holding Sri Global Limited, controlled by Giulio Gallazzi and Bernardo Vacchi, and presented the request for a composition with creditors with indirect continuity and the related crisis regulation plan to the Court of Florence.
The hearing is scheduled for next Wednesday, November 11th and, according to press rumors, it should only kick off the relaunch phase, managed directly by the Court in front of a notary, starting from the following Monday (November 16th).
Of the five initial suitors, only Sri (which has committed to putting in another 40 million) and the Azimut-Benetti nautical group would remain to compete, which could include the Turkish shipyard and the Umbrian carpentry Celi in the proposal, adapting its offer. The permitted raises should be no less than 2.5% of the best offer, i.e. 5.5 million euros.
What to Watch
AI outlook — possibilities, not facts
Start of relaunch phase in Court
Very likely · Within days
Open Questions
- What will be the outcome of the hearing on November 11th?
- Who will win the race between Sri and Azimut-Benetti?
