Tamburi sells 4% of Azimut Benetti and drops to 8% (the Arabs are 33%) – Corriere.it

the stake that Tamburi Investment Partners (Tip) has sold in Azimut Benetti is almost 4 percent, to be precise 3.98% of the luxury nautical group. The sale was expected, after the shareholding reorganization announced on 3 April, which envisaged the entry with 33% of Public Investment Fund (Pif), a sovereign wealth fund of Saudi Arabia, but the size of the stake was not known would be sold. Through the opening of the capital to Pif – reports Tip’s note – a long-term strategic partnership was launched to support the next phase of development with the aim of leveraging the synergies that the new investor will be able to stimulate in support of growth both dimensional and technological. Tip, already a shareholder of Azimut-Benetti for over 8 years, remains a shareholder with an 8.09 percent stake.

The Vitelli family

The Vitelli family maintains extensive control of the group and with it its strategic management, declared Giovanna Vitelli, chairman of the Azimut-Benetti group after Pif’s entry into the group. I confirm the satisfaction and pride of the family for having obtained, as the most important mega yacht builder group in the world, the trust of one of the largest global sovereign wealth funds, already present in luxury, technology and leisure, he added Vitelli, according to which Pif will accompany the Azimut-Benetti group in the long term and will offer it new important business opportunities also in a geographical area, the Middle East, which is undergoing very strong development.