DUBAI, UAE, September 17, 2019 /PRNewswire/ — International Maritime Industries (IMI) today announced that they have signed with Bahri, a world leader in logistics and transportation, a ship purchase contract (VPA) and then a sub-contract with its long-standing partners Hyundai Heavy Industries, Co., Ltd. (HHI) to build a (1) 319,000 DWT-Oil-Oil-Carrier with delivery expected in October 2021. Other licensing, technical services and training agreements have also been signed with HHI to ensure skills development and knowledge transfer. This project design strengthens the commercial relationship between IMI and its shareholders and contributes to the development of a localized supply infrastructure of the maritime industry, technical know-how for Saudi nationals and a balance sheet of shipbuilding. Other licensing, technical services and training agreements have also been signed with HHI to ensure skills development and knowledge transfer. Saudi Arabia`s International Maritime Industries (IMI) signed a ship purchase agreement (VPA) with the National Shipping Company of Saudi Arabia (Bahri), followed by a sub-contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of a very large crude oil cargo ship (VLCC). Abdullah Aldubaikhi, CEO of Bahri, commented on the award for the project as: «Bahri strives to play a central role in transforming the kingdom into an important centre for regional and global logistics and transport. Bahri explored new horizons for industrial cooperation in order to advance his vision. This award, which further strengthens our strong strategic relationship with IMI and HHI, represents an important development in this direction; We are confident that this will give a boost to our ongoing efforts to improve our offering and strengthen our capabilities. We look forward to a successful collaboration that will benefit our customers and shareholders. Prior to the merger, Sanpaolo IMI`s equity was EUR 5,400,253,255.68, Divided into: No.
1,875,087,936 Shares with a face value of 2.88 euros, of which 1,590,903,918 common shares and 284,184,018 preferred shares. Banca Intesa`s shareholding consisted of approximately 195,000 shareholders. La Compagnia di San Paolo, Fondazione C.R. Padova e Rovigo e Fondazione C.R. Bologna were subscribers to the agreement, also known as the «Unit of Intent Pact» and expired on 19 April 2007 and 217,324,797 common shares, or 13.661% of the ordinary capital and 11,590% of the total capital. The agreement followed and passed the «Memorandum of Understanding» signed by the foundations in 2001 and paid a total of 15% of the ordinary capital of FONDACO SGR.