Italy’s Fincantieri and the 2008-founded shipbuilder Genova Industrie Navali (GIN) have reached a cooperation agreement covering new buildings, ship repair, conversions and outfitting.
The deal with the Genoa shipyard, which was formed by the merger of two historical shipyards T. Mariotti and San Giorgio del Porto, provides for the acquisition by Fincantieri of a minority stake in GIN Group’s holding company and an option for a minority stake in T. Mariotti.
Fincantieri said that its stake would allow GIN “to achieve further financial strength, an increasingly important asset to face complex projects and to overcome market challenges, especially in the field of small and medium-sized luxury cruise ships construction.”