Italian shipbuilder Fincantieri announced it has reached a cooperation agreement with Genova Industrie Navali (GIN), to acquire a minority stake in GIN Group’s holding company and an option for a minority stake in T. Mariotti.
Genova Industrie Navali (GIN) was founded in 2008 from the merger of two historical shipyards in Genoa, T. Mariotti and San Giorgio del Porto.
The agreement, inked in early March, covers different areas, from new buildings, to ship repair, conversions and outfitting, the company said.
Fincantieri’s stake will allow GIN to achieve further financial strength, an increasingly important asset to face complex projects and to overcome market challenges, especially in the field of small and medium-sized luxury cruise ships construction,
…the company informed in an official statement.
In early 2019, the European Commission assessed Fincantieri’s proposed acquisition of Chantiers de l’Atlantique, ahead of the EU Merger Regulation. The Commission said that the transaction could harm shipbuilding competition at European and global level.
