Italian Boatbuilding Group Ferretti Turns Down a 100m Euro Offer for its Pershing Boat Brand

The Ferretti Group's 2010-2012 industrial plan included the sale of boat brand Apreamare, and in November last year Ferretti sold its share in Spanish superyacht painting company Pinmar SL. The Ferretti Group comprises nine yacht brands — Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN, Custom Line and Apreamare.

According to information received Ferretti CEO Salvatore Basile has rejected the offer. The offer is rumored to have come from one of two private equity groups, one Dutch-controlled and the other based in the Netherlands and Belgium.

Pershing chairman Attilio Antonelli has handed in his resignation following the recent announcement that Ferretti SpA has refused the purchase offer received on February 3, 2010, for its controlled company Pershing SpA. Antonelli did not agree with the Ferretti Group's decision to refuse the offer on Pershing. The boards of directors at Ferretti and Pershing have regretfully accepted Antonelli's decision to resign.

Ferretti's decision to refuse the offer on Pershing was made after considering the brand's strategic importance, the significance of the Mondolfo production facility and the technical and human value of the people working there, in order to achieve the aims set down in the industrial plan for relaunching the group.