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Italian navigation company Cin buys ferry operator Tirrenia for 380M Euros

Italian navigation company Cin has signed a deal with Unicredit bank, MPS, BPM, Banca Popolare di Vicenza and Banca Intesa Sanpaolo for the purchase of Tirrenia Navigation for 380 million euro (USD459 million), Baird Maritime reports. The final hurdles of the deal are the signing and ratification of the acquisition in Rome between the special commissioner of the company, Giancarlo D'Andrea and Ettore Morace, CEO of Cin, set to take place later this month. http://www.bairdmaritime.com/index.php?option=com_content&view=article&id=13242:cin-buys-tirrenia&catid=96:cruiseferry&Itemid=116

Generator failure halts ferry

400 people were stranded for seven hours in the night of June 26, 2011, aboard the "Bithia", which was stuck in the port of Palermo because of an engine faliure. The "Bithia" should have sailed from Palermo to Naples at 8.15 p.m., but suffered a generator failure. Unfortunately passengers and vehicles were already on board. The air-conditioning was not working and the bar was closed, so the passengers could not even be supplied with water for some hours.