Wider Yachts has announced that the company is no longer interested in buying the brand name and facilities of Ancona-based yacht builder, ISA Yachts.
The news comes soon after the Italian shipyard expressed an interest in acquiring ISA’s facilities in order to expand their existing production, with the intention to also continue producing yachts under the ISA brand.
Tilli Antonelli, company founder and CEO, commented, “As a result of the due diligence undertaken since our offer to acquire the ISA facility and brand on the 15th January 2016, we have decided to withdraw our proposal. The due diligence revealed an incompatibility with our business plan and the development of ISA, which was the basis of our original interest.”
At this stage, two further companies are known to remain interested in acquiring ISA Yachts: The Frittelli Group and Palumbo Group, with the latter expressing sincere interest just last week.
For more information, visit Wider Yachts.