KKCG Maritime, the second-largest shareholder in Ferretti SpA, has launched a voluntary tender offer of up to €182 million as it seeks to expand its influence over the Italian luxury yacht builder and reshape its board composition.
The Czech investment group aims to nearly double its stake to just below 30 per cent, a level that would stop short of triggering Italy’s mandatory takeover rules. KKCG said it has no intention of taking Ferretti private, instead positioning the move as a long-term strategic investment focused on governance and growth.
According to Bloomberg, KKCG is also preparing to call a shareholder vote to remove board directors with links to Ferretti’s largest shareholder, China’s Weichai Group. The reported move signals rising tensions between the company’s two main investors following a series of share purchases by Weichai that pushed Ferretti’s stock price higher.
KKCG’s offer values Ferretti at around €1.2 billion. The proposed price of €3.50 per share represents a 21.3 per cent premium to the company’s closing share price on 11 December 2026 — the final trading day before Weichai increased its holding. While the offer is below Ferretti’s current market price, KKCG said it reflects the company’s valuation prior to Weichai’s recent market activity.
Sources cited by Reuters said KKCG’s planned board nominees would not seek to replace Ferretti’s current senior management, and that the investor has no plans to delist the company. Instead, the strategy appears aimed at increasing oversight and influence at board level rather than pursuing outright control.
“This offer reflects our intention to build on our long-term investment in Ferretti and contribute to its future growth and development,” said KKCG founder and chairman Karel Komárek. He added that KKCG’s approach is centred on engaged governance, experienced management teams and long-term strategic commitment.
Ferretti Group declined to comment on the developments, while Weichai Group has not publicly responded. The situation sets the stage for a potential governance showdown that could shape Ferretti’s strategic direction in the coming years.
