RINA Group gets $34.6m boost from local investors

The investment is part of a drive to make the RINA Group more internationally competitive with “key worldwide players” according to RINA S.p.A. president and ceo Ugo Salerno.

Intesa Sanpaolo and VEI Capital have indicated the investment could be increased to EUR100m later on, in order to provide extra capital for what Intesa Sanpaolo’s head of Merchant Banking Marco Cerrina Feroni called RINA’s “evolution process”.

“Indeed, the investment represents an opportunity to take a stake in an historical company of Italian heritage, very well-managed and with excellent growth opportunities,” said Feroni.

Said Salerno: "The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to invest in our company gives us immense satisfaction. Their stake in our company offers us additional and decisive development opportunities in terms of both growth and also acquisitions in order to develop a leading national organisation to compete with key international players.”