The Italian classification society has completed the entry of a new shareholder. Fondo Italiano d’Investimento is contributing fresh capital.
Rina and the investor announced the deal a few months ago and it has now been finalized[ds_preview].
The agreement includes an equity investment of up to €180 million Fondo Italiano d’Investimento, which is structured as equity. As part of the share distribution, Registro Italiano Navale will retain a majority stake, while Fondo Italiano d’Investimento and other co-investors led by it will acquire a minority stake of up to 33%. In addition, the company’s management will retain an equity stake of approximately 3.5%, as has now been confirmed.
At the same time, Rina’s new Board of Directors has been appointed, with Carlo Luzzatto as CEO and General Manager of the company. Ugo Salerno remains in his role as Executive Chairman and is responsible for communications and relations with the institutions.
Rina sets its sights on an IPO
Further steps on the capital market could follow. “These changes are part of the company’s continuous growth path, which is focused on developing business models and services that are increasingly based on innovation and sustainability, as well as on accessing the stock market within a timeframe of 3 to 5 years,” Rina has now announced.
Nazareno Cerni, Aldo Di Bernardo, Gianpaolo Di Dio, Simonetta Di Pippo, Emanuele Grimaldi, Carlo Luzzatto, Roberto Martinoli, Paolo Pierantoni and Ugo Salerno now sit on Rina’s Supervisory Board.
Davide Bertone, CEO of Fondo Italiano d’Investimento, said: “We are particularly happy and proud to be able to actively contribute to a phase of further growth and development for RINA.” Rina manager Salerno emphasized that the class has constantly evolved throughout its history, “especially in recent times”, by diversifying business areas and entering international markets. “I am confident that the phase we have just entered will open up new challenges that will allow us to reach an even higher level of excellence.” He believes that Carlo Luzzatto is the right person to drive this plan forward.
