Palumbo Superyachts finally swallowed by Mondomarine

The yachting division of the Palumbo Group (Palumbo Superyachts) last week completed the registration of all necessary documents for inclusion in the holding company bankrupt last year, Italian shipyard Mondomarine, according to MegaYacht News. About the impending takeover became known in the beginning of the year, but all the formalities were settled only now. The deal from the beginning assumed a six-month lease of a site Mondomarine with a subsequent purchase.

“We worked on this for almost a year because we firmly believe in the potential of reformed brand Mondomarine and geographical location of the shipyard,” explained CEO of the Palumbo Group , Palumbo Giuseppe (Giuseppe Palumbo).

The port authority of Savona (Italy) have already signed with the Palumbo lease their territories for the next 20 years. Space Mondomarine held in the port of Savona 30 thousand square meters. The company belonged to the Cabinet makers and metal shop, warehouses, 12 dry docks, several slips, and offices for the captains and teams.

To financial difficulties and controversial trial for fraud Mondomarine was a prominent player in the construction sector of the Italian superyachts, making for 25 years, more than 30 boats. Striking examples of her recent works have become 50-meter Ipanema, released in 2016, and a 60-meter Star Sara, who became one of the brightest Premier at the Monaco Yacht Show in September 2017.

Mondomarine was the third acquisition by Palumbo Group over the past two years. First, the company became the owner of the production site on the island of Tenerife (Spain), and then won the bid to purchase the bankrupt shipyard ISA. This rapid expansion has made Palumbo Group one of the leaders in European shipbuilding.

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