In 2007, after different years of growth, the yacht builders was acquired by the British private equity firm Candover for €1.1bn, but in 2008 arrived the crisis and Candover decided to sell. In 2009, after the crisis, Royal Bank of Scotland and American hedge fund Strategic Value Partners (SVP) put in place a rescue plan for the Italian shipbuilder with an investment of€150m. This operation allowed the company to reduced the company’s liabilities to approximately €600m from more than €1bn. Now in 2011 the market continue to show a slow recovery, what is the Ferretti Group situation?
According to the news regarding the company the order portfolio that to date comprises around €465m, with an increase of around +44% compared to the €322m on the same date in 2010.
Thank to this positives data the Ferretti Group has started talking to its main lenders, who have expressed their willingness to assess the possibility of a restructuring process. In the meantime the Group received an offer by Shandong Heavy Industry Group (SHIG),that require further evaluation.
In the next weeks we will see what will be the future of one of the main Italian shipbuilding manufactures.