June 27, 2019

Italy’s financial newspaper MF-MilanoFinanza revealed that, earlier this month, Grimaldi Group sent a petition to the local Transport Minister, the Antitrust Authority and the Court of Audit, asking for an early termination of the subsidies (EUR 72 million per year) paid to CIN Tirrenia by the Italian State.

This subsidy supports lifeline maritime transportation with Sardinia, Sicily and Tremiti Islands.

Grimaldi stated that the public subsidies should be stopped due to breach of the public contract following the case sentenced by the Italian Competition Authority for alleged abuse of dominant position in the freight business in Sardinia and the alleged deferred payments under the CIN-Tirrenia purchase agreement.

Onorato Armatori later replied that Grimaldi’s petition is based on “false information”.