The new shareholder is backed by the sovereign wealth fund of Saudi Arabia, which is one of the largest in the world, and is set to accompany the Group as they pursue a new phase of growth.
As a new minority shareholder, Public Investment Fund will work alongside the vision of the Vitelli family to continue the Azimut Benetti Group's plan to expand, introduce new models and extend its reach to even more yachting clients.
Still working with TIP (Tamburi Investment Partner), the eight-year partnership will continue despite the strategic new partner, though at a lower stake.
PIF will accompany Azimut|Benetti Group in the long term, offering strategic and important new business opportunities.
Chair
Azimut|Benetti Group
Reflecting on the new upcoming opportunities for the Azimut|Benetti Group, the prominence that PIF has in multiple other industries will benefit the yacht-building business in the long term and potentially open up even more new opportunities down the line.
The news of branching out into more territories comes at an exciting time for the Italian Group with the recent launch of the first 50m B.Now Oasis deck in March 2023 and the stunning 67m superyacht CALEX made her global debut at the 2023 Palm Beach International Boat Show.
