Ferretti adviser calls KKCG's stake-raise offer unattractive

Ferretti SpA

13/03/2026 01:31

March 13 (Reuters) - Italian yacht maker Ferretti YACHT.MI said on Friday that an independent financial adviser has deemed Czech investment group KKCG's offer to double its stake in the firm "not attractive".

In the same statement, Ferretti said the independent board committee reviewing the bid agreed with the adviser's assessment and recommended that independent shareholders reject the offer.

In January, KKCG launched an offer worth up to 182 million euros ($209.8 million) to double its 14.5% stake in Ferretti and push for changes to a board appointed by the company's Chinese controlling shareholder.

"In particular, a duopoly of significant shareholding of Ferretti International Holding (FIH) and KKCG Group, but neither holds a majority shareholding, may give rise to significant uncertainty in relation to the company's long-term business strategy and operational management," Ferretti said.

The company added that, as of Friday, KKCG had not discussed with any of its directors their potential inclusion in its slate for the board renewal, among other issues, creating uncertainty about the company's future direction.

($1 = 0.8677 euros)

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Sumana Nandy)

 ((Shivangi.Lahiri@thomsonreuters.com;))