MIDI preferred bidder for Maltese yacht yard

The Midi consortium is expected to be named the preferred bidder for the Manoel Island Yacht Yard according to The Malta Business Weekly. This particular business unit of the Malta Shipyards is known to be lucrative and comprises a yacht repair yard with slipways, refit and storage facilities.

Another two consortia had submitted their bid for the Manoel Island Yacht Yard. The runner-up bid was submitted by a consortium which included the world renowned Azimut Benetti Group. It is understood that a third bid was eliminated immediately.

Midi will be the first preferred bidder to enter into negotiations with the authorities. Government had last year launched a competitive process leading to the privatisation of the facilities used by Malta Shipyards Limited.

Earlier this week, two bidders have been shortlisted for Malta Super Yacht Services.

One bidder is a consortium made up of the Hili Group, Francis Busuttil, and a group made up of Falzon Fuels, S&D Yachts and surveyor Paul Cardona. The Hili Group are also in agreement with a French company, which is interested in acquiring shareholding. RLR is also involved. The other bidder is the Melita Group, which has as its partner the Spanish Astilleros Group.

In addition, bids for the ship repair business unit have already started being revised and the government has asked bidders for this unit to submit revised offers since bids amounted to less than EUR5m. Bidders have until 20 June to revise upwards their financial offer. Government estimates had put a price tag of between EUR18m and EUR25m for the ship repair unit which comprises three sizeable dry docks.