Moby Group’s top management has confirmed to labour unions that the long-planned merger of Compagnia Italiana di Navigazione (CIN) into Moby is progressing and is expected to be completed by the end of the year.
CIN, the vehicle company that owns the Tirrenia brand and assets, was established when the Onorato family acquired the former public ferry operator in 2012. A reverse merger was originally planned as part of the company’s restructuring, but it is only now taking shape.
The process may lead to the dismissal of around 30 administrative staff members.
Previously, CIN filed for restructuring at the Court of Milan alongside Moby. However, both companies are now financially stable. Once the merger is finalised, CIN and Tirrenia will cease to exist, leaving Moby—51% owned by the Onorato family and 49% by Aponte’s MSC—as the sole entity in the market. Moby will own and operate the fleet of ferries and tugs serving Italy’s short-sea market.
No further vessel sales or demolitions are planned in the coming months.
