Giuseppe Bottiglieri Shipping Company seems to be attracting the interest of financial investors in an effort to find an agreement on a restructuring plan following the bankruptcy protection obtained under Italian law six months ago. More specifically Splash understands that Bain Capital is in advanced talks with the Naples-based shipping company for taking over part of the financial exposure with the banks and turning it into shares. That’s the solution the Bottiglieri family is working on in order to obtain a positive vote from creditors on its ongoing restructuring as well as an attempt to relaunch its business in partnership with a new minority shareholder.
Managing director Mariella Bottiglieri two years ago questioned the typical Italian family-model shipping company in an interview with Maritime CEO saying: “Times are changing also in shipping and companies like ours must modernize. In my opinion a partnership between a shipping company, as a major shareholder, with a financial investor, as a minority shareholder, might fit for the future.”