PxPixel
Ferretti may sell some brands - Trade Only Today

Ferretti may sell some brands

Author:
Publish date:

Ferretti SpA, the Italian-based parent company of Bertram Yacht Inc., may sell some of its entry-level brands so it can focus on more expensive vessels.

According to Bloomberg.com, some of those being considered for sale include the Apreamare and Itama units, which suffered the most cancellations of Ferretti's nine marques, Bloomberg reported. The article said Miami-based Bertram Yacht is not among those up for sale, but the boatbuilder may dispose of property it owns near the Miami airport and relocate production.

Officials from Bertram Yacht could not be reached this morning for comment.

The news follows a debt-for-equity swap that Ferretti made with a group of creditors, led by Royal Bank of Scotland Group, to avoid bankruptcy.

Click here to see the full story.

Related