The Italian Sea Group rises after Azimut-Benetti chair flags interest for assets
BUZZ-The Italian Sea Group rises after Azimut-Benetti chair flags interest for assets ** Shares in The Italian Sea Group TISGR.MI rise 8.5% after yacht maker Azimut Benetti chairwoman Giovanna Vitelli said the private company would be ready to acquire selected assets from the embattled rival group
** "If the conditions are there, we're ready to consider the acquisition of some assets," Vitelli said in an interview published by Italian daily la Repubblica
** The Italian Sea Group is preparing a restructuring plan that could include the sale of its La Spezia shipyard, which Repubblica notes could interest Azimut Benetti, as well as listed rival Sanlorenzo SNL.MI
** A Milan-based trader links the stock's rise to the interview
** The Italian Sea Group's board will meet on July 31 to approve its FY 2025 statements, while a shareholders' meeting is planned for Sept. 11 to renew the board
** Including Wednesday's rise, the stock has dropped 73.5% YTD
(Enrico Sciacovelli)