TISG: declaration on the freezing of the Sherazade megayacht

TISG: declaration on the freezing of the Sherazade megayacht


07/05/2022 - 19:22

The Italian Sea Group, global operator in the luxury yachting industry, confirms that the Finance Police (Guardia di Finanza) of Marina di Carrara has executed the Decree for Economic Resources Freezing of May 6th 2022 from the Ministry of Economy and Finance, pursuant to Art. 4-bis of Legislative Decree no. 109/2007, as proposed by the Financial Security Committee established in the Economy and Finance Ministry, through which the freezing of the Sherazade yacht [IMO 9809980] has been requested.

The Italian Sea Group also confirms that this event will not impact any of its activities, which will proceed regularly, and that it will continue to collaborate with the Authorities. This document is an English translation from Italian. The Italian original shall prevail in case of difference in interpretation and/or factual errors.

The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motoryachts and sailing yachts up to 140 metres. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, known for its sporty features, cutting-edge design and high performance, Perini Navi, excellence in the design and construction of large sailing yachts, and Picchiotti, historical brand in the Italian yachting industry featuring classic and elegant lines. The Company also has a business unit named NCA Refit that manages the maintenance and refit services for yachts over 60 metres. In line with its strategic positioning, The Italian Sea Group has partnered with important Italian luxury brands: Giorgio Armani – to develop yachts penned by the designer, highlighting the merger of two excellence Ambassadors of Italian style in fashion and yachting – and Automobili Lamborghini – to design and produce “Tecnomar for Lamborghini 63”, a limited edition motor yacht featuring extraordinary performances and quality beyond limits. The Italian Sea Group is the first Italian producer of superyachts over 50 metres, according to the 2022 Global Order Book, the global
ranking by Boat International.

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