ITALY – Ferretti could float this year

It is understood that Candover and Permira have contacted Merrill Lynch and Mediobanca to coordinate the exit.

Ferretti has experienced high demand for its yachts in recent years, with profits soaring to EUR 158m on a turnover of EUR 933m to year end 31 August 2007. There is speculation that the listing could value Ferretti at up to EUR 3bn (US$4.75bn).

In 2000, Permira listed Ferretti on the Milan exchange, re-acquiring it in 2002 before selling down its stake to a 9.5% shareholding in 2006, when Candover bought a 60% stake in a deal which valued the company at EUR 1.7bn (US$2.69bn).

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