Ferretti seeks restructuring with lenders - Trade Only Today

Ferretti seeks restructuring with lenders

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The board of Italy's Ferretti S.p.A. announced it is talking to lenders about restructuring its capital structure "though a significant reduction in debt position and by raising new money."

“Ferretti Group has already started talking to its main lenders, who have expressed their willingness to assess the possibility of such restructuring process,” the company said in a statement. “With regard to the offer by Shandong Heavy Industry Group, the board of directors of the Ferretti Group, while confirming the industrial validity of a possible deal with the Chinese company, deems that to date it still contains a number of elements of uncertainty, which therefore require further evaluation.

“The Ferretti Group therefore confirms its intention to continue to pursue discussions with counterparties with the aim to evaluate all opportunities,” the company added.

The company stressed it continues to operate as usual and took part in annual shows in Cannes, Monaco, Geneva and is now exhibiting 15 models at the Fort Lauderdale International Boat Show, of which five are exclusive debuts for the American market.

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HydroHoist Marine Group, Inc. (HMG), founded in 1964, is the world’s leading hydro-pneumatic boat lift company specializing in the manufacture, sale and service of boat lifts, power pedestals through our innovative HyPower division and other marine related products.