Ferretti Sends Updated Response as Board Splits Over KKCG Maritime Tender Offer

Ferretti S.p.A. ( (IT:YACHT) ) has shared an announcement.

Ferretti S.p.A. has despatched a response document supplement to its shareholders regarding KKCG Maritime’s voluntary conditional partial public tender offer for up to 15.4% of its share capital. The document, sent under Hong Kong Takeovers Code rules, updates investors on the terms of the revised consideration and the latest views from the company’s advisers and independent directors.

The independent financial adviser Altus Capital considers the revised offer price unattractive, concluding the bid is not fair and not reasonable for independent shareholders. A majority of the independent board committee members agree and urge shareholders not to tender, but two members, Piero Ferrari and Stefano Domenicali, dissent and recommend accepting, highlighting a clear split at board level that may influence how investors respond to the offer.

More about Ferretti S.p.A.

Ferretti S.p.A. is an Italian joint-stock company operating in the marine sector, with its shares listed on the Hong Kong Stock Exchange under stock code 09638. The company’s share capital structure has attracted interest from strategic investors, including KKCG Maritime, which has launched a partial public tender offer to increase its stake in Ferretti.

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