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Article: Italy : Ferretti Plans Initial Share Sale to Fund Growth.
- Article from:
- TendersInfo
- Article date:
- June 21, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Ferretti SpA, the Italian maker of Riva yachts, plans to file for an initial public offering in the next few days after receiving approval from shareholders, Chief Executive Officer Vincenzo Cannatelli said.
Ferretti, which is 60 percent-owned by private-equity firm Candover Investments Plc, wants to both expand its current operations and buy new companies, Cannatelli said today before a luxury-goods conference on the Mediterranean island of Sardinia.
Ferretti has purchased eight companies in 12 years. The company's sales are rising by 20 percent a year by selling yachts that cost at least 2 million euros ($3 million.) Clients ...
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