Bloomberg News

Ferretti Sees ‘Elements of Uncertainty’ in Shandong Heavy Offer

October 27, 2011

Oct. 28 (Bloomberg) -- Ferretti SpA, the luxury-yacht maker looking to restructure assets, said it would continue considering an investment offer from Shandong Heavy Industry Group.

There are “elements of uncertainty” about the offer that require further evaluation, the Forli, Italy-based yachtmaker said in a statement yesterday. The two companies will continue talks, it said.

Ferretti also said it had a 465 million euro ($659 million) order backlog, 44 percent higher than a year earlier, as an economic rebound revives demand for luxury goods. The company owns eight brands including Riva, which sells a line of limited edition boats with interiors designed by Gucci Group NV.

--Editors: Neil Denslow, Terje Langeland

To contact the reporter on this story: Scilla Alecci in Tokyo at salecci@bloomberg.net

To contact the editor responsible for this story: Neil Denslow at ndenslow@bloomberg.net


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