Leading financial newspaper Corriere della Sera has outlined the proposed acquisition, suggesting that it would require a bid in the region of €25-30 million for Ferretti Group to be successful in completing a take over of the Monte Carlo-based company.
The investment would represent Ferretti Group’s debut in the sailing market, a key move in the business’s long-term strategy. If completed, the deal would see Wally Yachts join Ferretti Group’s impressive portfolio of brands, which includes Ferretti, Pershing, Itama, Mochi Craft, Riva, CRN and Custom Line.
Alberto Galassi, Ferretti CEO, confirmed to the newspaper that talks between he and Wally Yachts founder Luca Bassani have been ongoing for “months” after an extensive hunt for a yard producing maxi yachts.
He noted, “We have been in negotiations for months. We strongly believe in this acquisition, because the brand is extraordinary and in strong synergy with the other brands of Ferretti Group - but it is a very complicated operation.
“The agreement could be signed by beginning of next year, if all the necessary conditions are reached.”
The news is expected to be officially announced in September at the Cannes Yachting Festival.