Following Wider Yachts’ confirmation that it had expressed interest in the acquisition of indebted ISA Yachts, Tilli Antonelli, founder and CEO of Wider, has released a statement informing the superyacht community that it has since withdrawn its offer.
"As a result of the due diligence undertaken since our offer to acquire the ISA facility and brand on the 15th January 2016, we have decided to withdraw our proposal," stated Antonelli. "The due diligence revealed an incompatibility with our business plan and the development of ISA, which was the basis of our original interest.”
However, according to multiple Italian reports, the secondary offer levelled at ISA Yachts by Alberto Rossi, owner of the Fritelli Maritime Group, stands, and this will be considered by the company and the judicial commissioner, alongside that of a second party.
However, if Wider Yachts’ growth ambitions are to be believed, there will no doubt be more news emerging over the course of the coming months pertaining to its future strategy.