Beleaguered Italian superyacht yards Baglietto and Cantieri di Pisa are still waiting for a new owner as an agreement with Italian yacht builder Overmarine meets further delays.

The deal’s financial backer, French businessman and yacht owner Jean Jacques Frey, and the yards’ administrator have now announced that they are seeking new partners, according to reports in the Italian press.

“The Baglietto and Pisa project is still interesting for us, but there have been setbacks. In the meantime we are concentrating on our historic brand Mangusta,” a spokesperson for Overmarine told IBI.

In June Group Effebi-Overmarine did not sign a proposed agreement for the transfer of ownership of Baglietto and Cantieri di Pisa