Wider Yachts withdraws from ISA take over proposal

Written by Charl van Rooy

Wider Yachts have announced that the company is no longer interested in acquiring the construction facilities and brand name of Ancona-based yacht builder ISA Yachts. This news comes after the fellow Italian shipyard expressed their interest not two months ago in potentially buying the ISA facilities in order to expand their production as well as continue producing yachts under the ISA brand name.

Company Founder and CEO Tilli Antonelli comments: โ€œAs a result of the due dilignece undertaken since our offer to acquire the ISA facility and brand on the 15th January 2016, we have decided to withdraw our proposal. The due diligence revealed an incompatibility with our business plan and the development of ISA, which was the basis of our original interest.โ€

This leaves to known companies still in contention to possibly acquire ISA Shipyards; the Frittelli Group, and Palumbo Group, whom just last week announced their sincere interest in taking over the yacht building facility.



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