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Used Yachts New To Market and Price Reductions September 20 2013

Sep, 20 13 Post by: Rich Lazzara | Comments Off

This weeks New To Market is one of the best we ve had in awhile. In total there are 11 yachts.  These five all stand out and I m certain wont last through the show season.

EXCELLENCE IV 2013 Riva Domino 86 $7,200,000 CLICK HERE

JODY LEE 2004 Lazzara 80 $2,350,000 CLICK HERE

MONEYPENNY 2010 Pershing 80 $ 4,495,000 CLICK HERE

HAD TO HAVE IT 2013 Ferretti 690 $3,299,000 CLICK HERE

GOT WOOD 2009 Azimut 58 $1,249,000 CLICK HERE

Sanlorenzo and Sundiro Joint Venture

Sep, 20 13 Post by: Rich Lazzara | Comments Off

Another day goes by and another yacht manufacturer has a deal with Chinese investors.  It seems to be the same reoccurring theme.  Yacht company needs capital, Chinese company has excess capital and now you have an agreement. It s going to be really interesting to see how these   marriages work out.  No doubt a few are bound to end in a divorce. Sanlorenzo builds a great yacht and I m happy to see them get the much needed capital investment they need.  Hopefully they can continue to do what they do best.

The joint venture between Sanlorenzo Spa and Sundiro Holding will lead to a capital increase of 30 million Euro, signed in part by Sundiro and in part by Sanlorenzo shareholders. This will not however change the Italian majority shareholding of the Company, that will remain in the hands of Massimo Perotti.

“The joint venture with Sundiro Holding –  declares Massimo Perotti, Chairman Sanlorenzo Spa  – represents a very innovative agreement for the entire international nautical market, in which Sanlorenzo, a long term icon of the Made in Italy luxury worldwide, signed a business partnership with an important Chinese group, keeping in Italy both the ownership and the production sites.”

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Since its creation 15 years ago, Sundiro Holding has produced 18 million units of Honda motorbikes on license, with 4.700 employees and a turnover of around 2 billion Euro.

The agreement foresees a development in four steps:

1. A Chinese joint venture with Sundiro majority under the name Sundiro-Sanlorenzo Yacht Manufacturing Co. which will build yachts from 10 to 20 metres in China on the basis of Sanlorenzo design and under the brand “Sundiro”. “In this way, – continues Perotti  – Sanlorenzo enters a market of smaller yachts that is now missing in our traditional range of products and which is absolutely not in competition with the actual models built in Italy, from 22 to 62 metres. The start up of this first phase will take approximately two years before seeing these new models cruising”.

2. The second step consists in a Italian joint venture with a Sanlorenzo majority under the name Sundiro-Sanlorenzo Yacht International Srl, an Italian company which will be aimed at distributing the Chinese-built boats to the world market

3. The third step is the creation of a Hong Kong based company called Sanlorenzo Hong Kong that will distribute the Italian-built Sanlorenzo yachts from 22 to 62 metres to the Great China market, through the Sundiro Holding’s organization. The agreement includes the purchase of stock boats from Italy to sell in the region. “The contract we signed –  states Perotti  – consists of a ten year agreement with a total target of 450 million Euro divided in annual sales targets”.

4. The final step is a capital increase of 30 million Euro

“At the end of the operation –  says Perotti  – my share of Sanlorenzo will be 55-56%, so that the company’s control, as well as the production, will remain in Italy. I will continue to be the Chairman and Fulvio Dodich the CEO of the company”.

Thanks to this important agreement, Sanlorenzo strongly enters the Chinese market which is expected to reach 100.000 yachts by 2020 and debuts in the 10 to 20 metres yachting business, to compliment the model range.

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