Palumbo Group announced the acquisition of ISA shipyard. The court of Ancona (Italy) has issued a positive decision on this matter, accepting Palumbo's proposal among all the tender bids received.
It will take some time to formally conclude the transaction.
It has been previously reported that in the event of a successful deal Palumbo will commence building the Columbus Yachts 40 Sport Hybrid and the ISA 650 in Ancona.
With four docks and capable of building more yachts up to 80m LOA, ISA has been founded in 2001. The company was founded in 2001 and since then has launched more than 30 yachts, including the most notable Okto and Forever One. ISA came under interim administration in 2015. Frittelli Group owner Alberto Rossi and Wider CEO Tilly Antonelli have expressed interest in buying ISA.
For Palumbo, the site in Ancona will be the sixth in the group's portfolio. It was recently reported that Palumbo Group acquired a shipyard in Tenerife. In addition, the group owns shipyards in Naples, Messina, Marseille and Malta.