The Neapolitan shipowner is being linked to a deal worth up to EUR 90m ($109m) to acquire shares from Italian private equity firm Clessidra Capital Partners.
The deal could be closed within six months, ending a period of bickering between the two parties, according to Italian press reports.
The financial daily Il Sole 24 Ore suggests that the deal may present a challenge for Onorato who still needs to find finance.
It suggests he may obtain it through Italian bank Unicredit or by teaming up with new financial partners.
Clessidra and Moby teamed up three years ago to form Compagnia Italiana di Navigazione (Cin). Cin together with minority partners were successful in acquiring joint control of the Naples headquartered ferry operator Tirrenia when it was privatized by the Italian government.
Tirrenia and Moby are competitors and so the deal is subject to approval from Italian antitrust authorities.
Clessidra owns 25% of Cin and 32% of Onorato’s own ferry company Moby, according to La Nuova Sardegna.
The two parties are understood to have differed over strategy, with Onorato placing advertisements to make his case in the Italian press.
Onorato is understood to have argued that his private equity partners had only speculative intentions and lacked a business plan.
