JINAN, CHINA — The machinery maker Shandong Heavy Industry Group sealed a deal Tuesday to take a 75 percent stake in the debt-laden Italian luxury yacht maker Ferretti, the latest in a series of Chinese acquisitions of European brands. Chinese companies Riva, the Italian boat manufacturer, part of the Ferretti Group, has unveiled their latest yacht model, the 88 Miami. Scheduled to have its official premiere in early 2015, this luxury boat featuring a 2,433 horsepower engine perfectly blends an open-top Ferretti, the world's second-largest yacht maker, is preparing for the worst after sales of its €1m-plus yachts to the super rich hit the rocks amid the deepening financial crisis. In an alarmingly fast reversal of fortunes for Ferretti, which has a star Jan. 10 (Bloomberg) -- Ferretti Group was sold to the state-owned parent of China’s biggest bulldozer-maker, putting the Communist nation in control of the world’s largest luxury-yacht builder. Creditors will sell 75 percent of Ferretti for 178 million The Ferretti Yachts 650, Ferretti Custom Line Navetta 28 and Pershing 70 are among 20 luxury yachts that the builder is showing at the Cannes show, which began Tuesday and continues through Sunday. “Three world previews and 20 of our most prestigious On January 10, China's Shandong Heavy Industry Group-Weichai Group said it had agreed to take majority control of Ferretti, the Italian luxury yacht maker. Chairman Tan Xuguang said Shandong Heavy would seek a separate listing for Ferretti in Hong Kong in .
HONG KONG—Chinese state-owned Shandong Heavy Industry Group Co. is in advanced talks to buy Italian luxury-yacht builder Ferretti Yachts, a person familiar with the situation said. It is the latest move by a Chinese company to acquire makers of luxury Ferretti Group Showcased the new Ferretti Yacht 750 in the heart of Wall Street for clients, prospective clients, and luxury partners last month. The Ferretti Yacht 750 was docked at the North Cove Marina in the heart of the financial district for a three A total of 145 countries are taking part with China, a growing presence in the Italian economy following a series of acquisitions ranging from luxury yacht maker Ferretti to tire maker Pirelli, will be particularly well represented. Intended as a A Grand Penthouse Designed by Steven G, a 69-Foot Ferretti Yacht and a 70-Foot Wet Slip Offered at Miami's First New High-Rise Residences With Private Marina in Two Decades NORTH MIAMI BEACH, FL--(Marketwired - May 01, 2013) - Marina Palms Yacht Club .
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