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HKG:9638

6 stories mentioning HKG:9638

Every FINWIRES story that references HKG:9638, newest first.

Asia

Ferretti Says No Negotiation Underway For Italian Sea Group Acquisition

Italian yacht maker Ferretti (HKG:9638) on Friday said it was not in talks with the Italian Sea Group or its major shareholders on a potential acquisition, but did not outright deny it was weighing an offer.A Bloomberg report on Thursday said the firm was weighing a deal to purchase all or some of some of Italian Sea Group's assets and had held discussions with advisers on a possible approach.Responding to the media report, Ferretti said no negotiations were underway. However, the company noted that it "continuously evaluates and assesses potential opportunities that may arise in the market."In its own report, Bloomberg said the deliberations were at an early stage and that there was no certainty it would lead to an offer.

HKG:9638
Asia

Ferretti's Profit Drops 12% in Q1

Ferretti S.p.A (HKG:9638) recorded a net profit of 21 million euros in the first quarter of 2026, down 12% from 23.9 million euros a year prior, according to a Tuesday Hong Kong bourse filing.The Italian yacht maker's net revenue of new yachts declined 8% to 302.1 million euros from 328.5 million euros previously due to a delay in order intake from the Middle East.Order intake fell to 179.6 million euros in the quarter from 270.6 million euros in the year-ago period amid uncertainty due to the Middle East war, while order backlog slipped 2.9% year over year to 1.72 billion euros as of March 31.

HKG:9638
Asia

Ferretti Appoints New CEO

Ferretti S.p.A (HKG:9638) said Stassi Anastassov was appointed chief executive following the retirement of Alberto Galassi, according to a Friday filing with the Hong Kong bourse.The Italian yacht maker's shares fell over 1% in morning trade Monday.The appointment follows a highly contested board election in which resolutions put forth by the company's substantial shareholder, KKCG Maritime, narrowly failed to secure majority support.The Czech investment group had previously objected to the company's board, but was able to elect one of its nominees during the annual meeting.

HKG:9638
Asia

KKCG Maritime's Bid to Revamp Ferretti Board Narrowly Fails to Secure Majority Support

Ferretti (HKG:9638) said a number of resolutions put forth by its substantial shareholder KKCG Maritime narrowly failed to secure majority support at the company's annual meeting, according to a Friday filing with the Hong Kong bourse.The Czech investment group, which recently ended a tender offer to bump its stake in the Italian yacht maker, had previously objected to the company's board and said it planned to nominate a slate of "individuals of high credibility and accomplished backgrounds."KKCG Maritime's slate of directors, led by Karel Komarek, received 47.44% of the votes, versus 52.31% for those nominated by Ferretti International Holding.As a result, all candidates proposed by FIH were elected to the board, except Marina Berlinghieri, who was replaced by Katarina Kohlmayer from the list submitted by KKCG Maritime.Prior to the elections, Piero Ferrari and Stefano Domenicali resigned from the company's board, citing differences with the firm.In his resignation letter, Ferrari expressed "frustration and disappointment" over what he witnessed in the past weeks and alleged that "various entities close to a faction" were impeding substantive discussion and vote.Meanwhile, Domenicali similarly cited the events of the past weeks to allege that the firm fell short of meeting its governance standards.Ferrari and Domenicali were the only directors who had recommended to shareholders that they accept KKCG Maritime's tender offer to acquire shares for cash.KKCG Maritime previously said that despite using 'Ferretti' in its corporate name, FIH did not represent Ferretti S.p.A. and was instead aligned with the Weichai Group, a Chinese state-owned enterprise that makes luxury vehicles.

HKG:9638
Asia

KKCG Maritime's Ferretti Stake Bid Ends Below Target

KKCG Maritime said 29.6 million shares had been tendered to its offer to acquire Ferretti (HKG:9638) shares by the closing period, below its target of up to 52.1 million, according to a Hong Kong bourse filing Wednesday.The Czech investment group launched the offer in January to acquire the shares for 3.50 euros apiece as part of a bid to increase its stake in the Italian yacht maker from 14.5% to 29.9%.The group's tender offer, which was later revised to 3.90 euros per share, did not have the Ferretti board's backing.The firm said it will buy all the shares for 115.9 million euros, bumping its stake by around 8.75% to 23.25%.

HKG:9638
Asia

KKCG Maritime Says More Shares Tendered to Ferretti Stake Offer

KKCG Maritime said a further 13.5 million shares had been tendered to its offer to acquire Ferretti (HKG:9638) shares, bringing total acceptances to more than half its target, according to a Hong Kong bourse filing Tuesday.The Czech investment group launched the offer in January to acquire up to 52.1 million Ferretti shares for 3.50 euros apiece as part of a plan to increase its stake in the Italian yacht maker from 14.5% to 29.9%.The group's tender offer, which was later revised to 3.90 euros per share, does not have the Ferretti board's backing.Following the latest acceptances, KKCG Maritime said a total of 29.6 million shares had been tendered to its offer, representing around 8.75% of Ferretti's shares and 57% of the maximum 52.1 million shares sought.

HKG:9638