ITALY - Candover is the most probable buyer for Ferretti

After months of speculation about the future of Ferretti, it seems that the luxury yatch group is set to be acquired by Candover. Market sources suggest that the UK buyout house is in final talks with Permira, majority shareholder with a 70% stake. Although the details of the operation are not yet clear, Candover will probably buy the majority of Permira shares for around EUR 1.8bn. It is understood that the firm will keep a minority stake of 20% in the company, while the founder Norberto Ferretti will hold 20% and the management will keep the remaining 10% shareholding. Debt will be provided by the Royal Bank of Scotland.