Update: The Italian Sea Group findings declare Perini Navi overvalued

Written by Rebecca Smurthwaite

At the end of last month, The Italian Sea Group declared official interest in the assets previously belonging to Perini Navi, a week after the announcement of auction. In an official statement, they declared that having been granted access to the official financial documentation from Perini Navi, they had employed Deloitte accountants to review the financial records.The Italian Sea Group company photoPhoto: The Italian Sea GroupThe Italian Sea Group has since found the Perini Navi auction assets overvalued. Following the in-depth analysis of the documents, Deloitte have determined that it is not advisable for TISG to participate in the auction, and have highlighted certain valuation elements as the reason.

The statement concluded, "TISG confirms its interest in Perini Navi only at sustainable values with a view to creating value for the company and its shareholders." Quinta Essentia launch at Admiral in Marina di Carrara

The news follows the announcement that both the Ferretti Group and Sanlorenzo also find the value of assets too high.

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