Athens-based tanker owner Rubico has entered into a purchase agreement to acquire a vessel-owning company from Top Ships. The acquired entity holds the shipbuilding contract for a newbuilding mega yacht, the Sanlorenzo 1150Exp.
The purchase price for the acquisition is $38 million. The 60-metre mega yacht is designed to accommodate up to 14 guests and 15 crew.
It is currently under construction at Sanlorenzo Yachts in Italy and is expected to be delivered from the shipyard during the second quarter of 2027.
An advance payment of $4 million, previously made under a letter of intent, has been credited against the total purchase price.
The company said the transaction was negotiated and approved by a special independent committee of the board of directors following a fairness opinion from a financial advisor.
Consummation of the share purchase is expected to take place no later than March 31, 2026.
This acquisition follows a due diligence process conducted during a previously announced exclusivity period.
