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Cantieri di Pisa receives new purchase offers

Business
Written by
Justin Ratcliffe

After Tankoa Yachts announced in early January it was in the final stages of due diligence prior to acquiring Cantieri di Pisa, the Italian financial daily Il Sole 24 Ore has reported there are now four other (unnamed) purchase offers for the historic shipyard in Tuscany.Tankoa emblemPhoto: Justin Ratcliffe / SuperYacht TimesThe renewed interest has been prompted by a reduction of the annual site fees and an extension of the concession rights, measures confirmed by Navicelli di Pisa, the municipal company that manages the area and the channel connecting the shipyard to the sea.

After the collapse of Mondomarine, Cantieri di Pisa was acquired in 2018 by the holding company U-boat Investment through auction for €2.65 million, but plans to relaunch production never materialised. Tankoa stepped in with a letter of intent, but the date for final signing of the purchase has expired and opened the way for other interested parties.Tankoa Yachts shipyardPhoto: Tankoa YachtsTo cut a long story short, in order to ensure a future for the shipyard and its remaining 19 employees, an extension of the site concession from 2021 to 2040 has been ratified and the annual concession fees for the site lowered from €40.5 to €22 per square metre [for a total of around €220,000 per annum].Cantieri di Pisa shipyardPhoto: Merijn de Waard / SuperYacht TimesMoreover, as part of ‘master plan’ to revive the port area, necessary investment to upgrade the yard’s infrastructure, such as increasing the size of the build sheds, will be discounted from the concession fees.

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