The debt restructuring of Naples-based Perseveranza di Navigazione has come to an end. The procedure was related to non-performing loans worth around $250m.
Four investment funds are involved in the deal just signed, and they are Pillarstone Italy, DeA Capital, Taconic and Hamburg Commercial Bank.
The shipping company headed by the D’Amato family controlled six ships, with an additional two jointly owned. Four are MR2 and LR1 tankers and the remaining four units were panamax and post-panamax bulk carriers.
Following the signature of this debt-restructuring agreement, four vessels will be transferred to Pillarstone and three to DeA Capital. Some of them are set to remain under Perseverenza di Navigazione’s technical management, keeping the company active and alive.