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Editor in chief: Angelo Scorza
11/06/18 14:14

RBD's fleet is about to witness the derby between Augustea and Premuda

The two Italian groups might play a leading role attempting to take over the 13 ships put at auction at the end of July

RBD Armatori's fleet, to be sold at auction by Torre Annunziata tribunal next 24th July, will be witnessing a derby between two Italian shipping companies which, according to reliable sources, will attempt buying the 6 tankers and 7 bulk carriers.

Base price was set at 200 million dollars and bidders are going to be Premuda, 100% controlled by Pillarstone Italy turnaround fund, in turn holding RBD's 50% loans and actually holding a double interest in raising ships' price, or takeover their subsidiary.

Furthermore, Pillarstone's partner, Gaudenzio Bonaldi Gregori, had lately confirmed that Premuda was getting ready to make new investments in shipping.

The second bidder will almost certainly be Greek group Star Bulk Carriers, also participated by Augustea (of which they recently took over the whole fleet) which recently launched a takeover plan aimed at consolidating their role in the dry bulk sector.

There might also be other bidders, however, tender terms state that the shipping branch also encompasses 13 ships (to be sold en-bloc), RBD Armatori's crew members and shore staff but not the company's headquarters.

In essence, should Augustea have premises in Naples, they might have better chance compared to other competitors.

The group helmed by the Zagari family had recently attempted to take over, together with  Oceanbulk, backed by Greek shipowner Pappas (who also controls Star Bulk Carriers), Giuseppe Bottiglieri Shipping Company's fleet during composition with creditors (subsequently taken over by Bain Capital).

Nicola Capuzzo

TAG : Market view