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Finaval is back in the news with the purchase of Wedellsborg and pitching itself as a financial investor | Shipping Italy, 29/03/2024

The company controlled by Giovanni Fagioli is a partner (49 percent) in Nav.Co. which has just formalized the purchase of the ship built by Cantiere Navale Visentini

 

Finaval made official the conclusion of the purchase of the ro-ro ship Wedellsborg through its subsidiary Nav.Co. Srl, a company 49 percent owned by Finaval Srl and 51 percent controlled by Grendi Trasporti Marittimi Spa. The transaction amounts to a total value of 34 million euros, 70 percent of which was financed by Crédit Agricole Italia, which acted as agent bank, and Banca Popolare di Sondrio.

The Wedellsborg is an Italian-flagged ship chartered bareboat to the Grendi Group and used to transport containers and rolling cargo on routes connecting the ports of Marina di Carrara, Olbia, Cagliari and Tunis. Built in 2014 by Cantiere Navale Visentini, it has a tonnage of 21,800 tons and a cargo capacity of 11,585 tons, is 180 meters long and 26 meters wide.

 

“Today’s deal is an important step for the Group,” comments Giuseppe Santarcangelo, deputy CEO of Finaval and chairman of Nav.Co. “For the past several years Finaval has been engaged in a process of change that will increasingly bring the focus to financial rather than purely shipowning operations; there are several initiatives concerning the maritime sector that we are evaluating and may materialize in the coming months. Not only ships but also services. Examples are Mar.In. Service and GDAS, the expertise and know-how we have acquired over the last 30 years allow us to be an important and highly specialized financial partner for all those realities that intend to grow, develop and continue to believe in a sector with incredible appeal.”

 

Nav.Co Srl was assisted by Banchero Costa (Francesco Fuselli and Enrico Zezzo) as financial advisor. The Adv. Stefano Ruscelloni as legal advisor and the Industriale II team as company advisor assisted Finaval. The firm Bonelli Erede-in the person of Enrico Vergani-participated as legal advisor to the financing banks.

 

Credits: Shipping Italy