Wedellsborg’s new co-owner Finaval emerging as new investor

April 5, 2024

The Giovanni Fagioli-controlled Finaval group has officially announced its co-ownership, holding a 49% share, alongside Grendi who holds 51%, of the vehicle company named Nav.Co. Nav.Co has recently acquired the RoRo ship Wedellsborg for EUR 34 million.

The seller of the vessel was Visemar Levante, a company associated with the Visentini family, who operates the Cantiere Navale Visentini shipyard in Italy where the ship was constructed in 2014. The financing for the deal was provided by Credit Agricole and Banca Popolare di Sondrio. The Genoa-based Banchero Costa served as the ship and financial broker.

Giuseppe Santarcangelo, the Deputy CEO of Finaval and Chairman of Nav.Co, stated that the group, which was previously primarily engaged in owning tanker ships, is now shifting its focus towards becoming a financial player and tonnage provider. He further mentioned that Finaval is currently exploring and evaluating potential new deals.