Blue Skye Investment Group is to restructure and invest in the Italian shipyard Perini Navi, according to reports.
The private equity firm intends to consolidate the Perini Navi Group and financially back the iconic Italian brand.
A statement released by Perini Navi's holding company Fenix said it had "entered into an agreement regarding a transaction aimed at achieving the approval of the restructuring plan of Perini Navi through financial resources provided by Blue Skye."
It added: "This transaction aims at consolidating Perini Navi and enabling the continuity of Fenix business project, by providing Blue Skye's solid expertise in the turnaround process as well as adequate financial support."
It comes after Sanlorenzo said it was considering a "possible acquisition" of the Italian shipyard Perini Navi during "a period of exclusivity".
The yard is currently owned by the Tabacchi family and Lamberto Tacoli as well as indirectly by Fabio Perini via a holding company.
Perini Navi previously announced it was looking to restructure its debt to "overcome a moment of significant financial strain".
A statement released by Perini Navi said the board of directors had started proceedings to activate the agreement that must be agreed in court.
This action was taken “to preserve the company’s operational and business continuity” and “overcome a moment of significant financial strain.”
The yard said the strain had been “further exacerbated by the Covid-19 outbreak and its impact over all markets.”