Ferretti investor KKCG is ready to support the yacht maker's expansion, which should be pursued through acquisitions in the leisure boating market and by developing its defence business, the Czech investment firm's chair said on Thursday.
KKCG founder and Chairman Karel Komarek outlined his view for Ferretti in comments to Reuters as the Czech firm, the second largest shareholder in the boat maker, seeks to gain control of Ferretti's board, challenging the grip of the top investor: China's Weichai Group.
Shareholders in the company vote to elect a new a board of directors on May 14 and KKCG has submitted a list of nominees which includes Komarek as president and current boss Alberto Galassi as chief executive.
"We clearly see the value which can be created via acquisition in various chains: either throughout the services and supply chain, or by consolidating the market when it comes to potential shipyards and brands," Komarek told Reuters.
He said it was "absolutely logical" for Ferretti to boost its presence in the, "navy and security businesses and serve (other) countries in the European Union as well as Italy."
"If there is an MA deal which requires more capital, we definitely are willing - if there is a good return on investment and the strategy fits - to support and to invest more money into the company alongside other investors," Komarek said.
KKCG first invested in Ferretti when the yacht maker listed in Milan in 2022. It recently raised its stake above 23 per cent and moved to challenge Weichai Group, Ferretti's largest shareholder with a 39.5 per cent stake.
Komarek said KKCG was a long-term shareholder and would remain invested even if its proposal for the board were rejected.
(Reporting by Elisa Anzolin, editing by Gavin Jones and Valentina Za)
