It looks like third time lucky for the privatisation of Malta Super Yacht Services (MSYS) which after a couple of false starts is now on course to be completed early next year.

Of the seven bidders that expressed interest in buying the facility, only two have been allowed to go forward to final negotiations with the remaining five eliminated for not meeting requirements.

SBN understands that one of the successful contenders is the Italian ship repair company Palumbo Group which owns a yacht building yard