Luxury Mangusta 92, up to 12 guests, from euro 7,500 until 1st May, 2013

Wednesday, February 4, 2009

Ferretti Group defaulted on a loan repayment

Published bi IBI News
According to the website "Just days after Italy's Ferretti Group defaulted on a loan repayment with The Royal Bank of Scotland, UK private equity owner Candover and senior Ferretti management have offered to inject €100m (US$130m) into the company in order retain control of the business.

Ferretti defaulted on its debt repayment back in January following a drop in new orders, an increase in cancellations and a slowdown in payments on yachts under construction. Separately the company has informed certain suppliers that it will halt production of some lines for 10 weeks in response to the slowdown.

Private equity house Candover acquired Ferretti in 2006 for €1.7bn"

No comments: