KKCG Maritime Upsizes Loan to Back Partial Tender Offer for Ferretti

The latest announcement is out from Ferretti S.p.A. ( (IT:YACHT) ).

KKCG Maritime has launched a voluntary conditional partial tender offer to acquire up to 52,132,861 shares of Ferretti, equal to 15.4% of its share capital, and has now secured an expanded financing package to support the transaction. The offer is being coordinated through Azúr a.s., with the intention to strengthen KKCG Maritime’s stake in the yacht maker without materially tying the loan’s performance to Ferretti’s underlying business.

To fund a portion of the revised consideration, KKCG Maritime amended its existing loan facility with Deutsche Bank, increasing available financing by up to €95 million and extending maturity to April 2029. All existing and newly acquired Ferretti shares held by KKCG Maritime will be pledged as collateral under the upsized facility, with voting rights only transferring to the lender if a default occurs, underscoring a highly secured structure that nonetheless preserves KKCG Maritime’s control in normal conditions.

More about Ferretti S.p.A.

Ferretti S.p.A. is a yacht manufacturer listed in Hong Kong under stock code 09638.HK and on the Italian market under the ticker EXM: YACHT. The company operates in the luxury maritime sector, focusing on high-end leisure vessels that target affluent global customers and specialized marine investors.

Learn more about YACHT stock on TipRanks’ Stock Analysis page.