Palumbo Group has secured complete control of Croatia’s historic Viktor Lenac shipyard, acquiring an 80-per-cent share in the company.
Owners of Malta’s shipyard in Cottonera, Palumbo Group’s latest move will see the empire of Neapolitan businessman Antonio Palumbo grow to eight shipyards as he focuses on providing specialised offshore services and expanding the superyacht business.
“Acquiring control in the Viktor Lenac shipyard means we’re casting our net as wide as possible to continue offering the best service for our clients in a cutthroat environment of cost-cutting,” group president Antonio Palumbo said.
Situated on the northern Croatian Adriatic coast, the Viktor Lenac is one of Croatia’s major shipyards, which traces its history back to 1896 and holds a long tradition in ship repair.
When Palumbo Group had first acquired a 14-per-cent share in the shipyard in May, Viktor Lenac CEO Aljosa Pavelin had welcomed the move as an opportunity to create considerable synergy and merge expertise.
Shortly after this, Mr Palumbo had the opportunity to launch a public offer to secure majority shareholding, which he succeeded in acquiring in recent days. His priority is to continue consolidating the strengths of his shipyards – that include Malta, Naples, Messina, Marseilles, Tenerife, Savona and Ancona – to meet the market’s demands and exceed expectations.
€25m investment in Malta Marriott
Le Méridien St Julian’s Hotel & Spa has closed its doors as it embarks on a €25 million investment that will see it transformed into the first Marriott hotel on the island by summer 2019.
The extensive transformation will see the hotel increase its rooms to 327, offering guests a wider choice of premium category rooms and executive suites. The project has been entrusted to architects Bluprint Periti and RPW Design Ltd.
Although the hotel itself will be closed over the next nine months, The Villa, which operates Taro at The Villa and Nori at The Villa within the stately Villa Cassar Torreggiani, will remain open.
“Having had a great 2018, we are now looking ahead to accelerating this momentum once the hotel reopens as the prestigious Malta Marriott Hotel & Spa next summer,” general manager Alex Incorvaja he said.