Rodriquez Cantieri Navali SpA and GE Capital, a wholly owned subsidiary of the General Electric Group (GE), have entered into a partnership. Following several months of negotiations GE Capital underwrote an increase in the share capital of Rodriquez. GE Capital's shareholding in the Shipyard is in the range of 26 to 40 percent. The agreement was announced by Gianni Morace, managing director of Rodriquez, during the shareholder's meeting in Messina, Italy - whose objective is to form an IPO in the near future. In addition to GE Capital, the other principal shareholders in Rodriquez are M.R.S. Sviluppo Srl, Ustica Lines SpA and Comecam Srl - all of who participated in a management buyout of the yard in 1997.
