Czech investment firm KKCG Maritime's stake in Ferretti rose to just over 23 per cent on Monday after the end of its partial voluntary offer on the luxury yacht maker, Reuters calculations on Borsa Italiana's data showed.
Borsa Italiana said 29,611,598 shares were tendered to KKCG's offer, equal to about 8.7 per cent of Ferretti's total share capital.
Last month KKCG had launched a bid to double its 14.5 stake in Ferretti, aiming to propose its own candidates for the yacht maker's board, currently dominated by representatives of the China's Weichai Group, the company's largest shareholder with a 39.5 per cent stake.
KKCG had raised its offer to €3.90 per share from €3.50, valuing the Italian yacht maker at about €1.32 billion ($1.55 billion).
Ferretti shareholder Pietro Ferrari had already said he would have tendered his 4.6 per cent holding to KKCG's offer. Earlier this month, Kuwaiti businessman Bader Nasser Al-Kharafi increased his five per cent stake in Ferretti, a filing showed.
(Reporting by Elisa Anzolin, editing by Giulia Segreti)
