The Italian luxury yacht manufacturer, Wider Yachts, is delighted to present its partnership with EXA Ltd., a company that refers to Tan Sri Lim Kok Thay, Chairman and Chief Executive of the Genting Group, a top South Asian entrepreneurial corporation. The operation brings an increase in capital, which means founder partners, Tilli Antonelli and Paolo Favilla, as well as new partner EXA Ltd. will each hold 50% of Wider. The futher resources resulting from this operation will contribute to the development of the company’s strategic plan, in accordance with the guidelines set down by Tilli Antonelli.
45m motor yacht Wider 150' under construction at Wider Yachts
Two years after it was founded, and after having launched its 42′ yacht, Wider is currently working its way through the steps of its strategic plan. The next stage in its development of high performance, high technology, medium-sized day cruisers is the 32’ and the company entered the displacement sector by launching the 150’ superyacht at the end of 2011. Moreover, presentation of a range of yachts measuring 30 to 50 metres has been planned for spring 2013.
The Wider evolution provides for products created for an exclusive, highly demanding clientèle with extremely high standards of quality, both regards the layout and design design. The team flanking Tilli Antonelli will also involve architects and engineers who have made Italian goods famous all over the world. The new units will all be built in Italy and respect the highest tradition of our shipbuilding industry.
“I decided to back Wider as I was impressed both with its course of development and its ability to establish itself on the international market with a completely innovative, technologically cutting-edge product despite the difficult economic situation,” declared Tan Sri Lim Kok Thay. “The choice of investing in a streamlined company, able to respond quickly to market demand in terms of both product and style, is also tied to the acknowledgement of the sheer value of Italian-made goods in terms of technological expertise, innovation and design and the in-depth experience of founder Tilli Antonelli,” concluded Tan Sri Lim Kok Thay.
“I’m extremely honoured to have reached an agreement with such an important entrepreneur, who strongly believes in Wider’s development and know-how, choosing to invest in rather than purchase the company,” declared Tilli Antonelli, President and CEO of Wider. “I also believe that Wider’s values are able to respond perfectly to the increasing development potential of Asian markets, within the sphere of leisure yachting,” he added.
A fundamental part of the agreement is the synergy between Wider’s expertise – in terms of product and of managing international distribution networks – and the resources of the Genting Group, which operates mainly in the tourism and leisure sectors.
The Group boasts a capillary presence on Asian markets, manages 5 companies listed on the Kuala Lumpur, Singapore and Hong Kong stock exchanges and capitalises around 35 billion dollars, employing 52,000 people. Tan Sri Lim Kok Thay also controls the third most important company in the world in the cruise liner business, with Star Cruise (South Asia) and Norwegian Cruise Line (Caribbean).
Whilst Wider was assisted in this operation by KT Finance and Mazzoni & Associati, EXA Ltd. was assisted by Clyde & Co.
