Weichai rejects KKCG offer for Ferretti Group
Ferretti owns yacht brands including Riva, Pershing, Wally, Itama, Custom Line and CRN
Ferretti Group’s largest shareholder, Weichai Group, has rejected a partial bid for the Italian yachtbuilder by its second-largest investor.
Earlier this week, Czech investment group KKCG Maritime launched a voluntary offer, worth up to €182m, to double its stake in the Italian yacht maker. If completed, the move would raise KKCG Maritime’s ownership to just under 30 per cent. The Czech investment group is also reportedly preparing to propose a shareholder vote to oust directors with connections to China’s Weichai Group.
Two people ‘close to the matter’ told Reuters earlier this week that KKCG’s slate of board nominees “would not seek to replace the company’s current top management.” Reuters reports that the firm has “no plans to take Ferretti private”, targeting a stake of just below the 30 per cent threshold that triggers a mandatory full takeover.
The rejection by Weichai makes a showdown increasingly likely at the group’s annual meeting.
Potential showdown at annual general meeting
The fresh statement, issued by Weichai-controlled Ferretti International Holding (FIH) on Thursday (22 January 2026) confirms that Weichai will not support the partial tender offer put forward by KKCG.
‘Since becoming the controlling shareholder, FIH has remained committed to supporting the sustainable development of the company, ensuring continuity in its operations and governance, and enhancing long-term value for all shareholders,’ the statement reads.
‘FIH considers its investment in the company to be of a long-term and strategic nature. In line with this approach, FIH has, from time to time, increased its shareholding in the company.
‘In its capacity as controlling shareholder, FIH intends to continue exercising its voting rights with a view to maintaining stability and continuity in the company’s governance framework.
‘In particular, based on the attendance recorded at the past shareholders’ meetings, FIH has continuously declared to exercise control of the company pursuant to article 93 of the CFA and intends to nominate the majority of the directors of the company; FIH expects to seek to maintain effective control of the company and appoint the majority of the board of directors at the next annual general meeting of the company.’
Kuwaiti investor takes stake in Ferretti Group
The news comes the same week as Kuwaiti businessman Bader Nasser Al-Kharafi acquired a three per cent holding in Ferretti Group, becoming a new minority shareholder. The purchase was made through his private investment vehicle, BNK Holding KSCC.
Al-Kharafi, a prominent figure in Kuwait’s corporate landscape, currently serves as chairman of Boursa Kuwait, the operator of the country’s stock exchange, and holds senior leadership roles at several major companies. These include his position as vice chairman and chief executive officer of telecommunications group Zain Group, as well as vice chairman of Gulf Cables. He is also a shareholder and board member of Coca-Cola Kuwait and sits on the Investment Advisory Board of Coutts Bank UK.
