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Taconic Capital buys into Gestioni Armatoriali

Ravenna-based Gestioni Armatoriali has been forced to welcome Taconic Capital among its creditors, sources familiar with the matter confirmed to Splash.

The private equity fund purchased a non-performing-loan (NPL) which is worth $49m from Italy’s Ubi Banca thus becoming the second speculative investor stepping into the company controlled by Nicola, Coccia, Bruno Castaldo and the Bazzi family after Deutsche Bank in 2015 purchased $90m of NPL from Commerzbank.

As of today these two private equity funds control more than 40% of Gestioni Armatoriali’s financial exposure.

The Ravenna-based shipping firm controls a modern fleet of 12 ships made up of nine dry bulkers and three MR tankers.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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