It is reported that Italian luxury yacht company Ferretti is to rejoin the Milan bourse later this year. The business's private equity owners, Candover and Permira, are understood to have contacted Merrill Lynch and Mediobanca regarding their acting as global coordinators of the float.
Ferretti has experienced high demand for its yachts in recent years, with profits soaring to EUR 158m on a turnover of EUR 933m to year end 31 August 2007. There is speculation that the listing could value Ferretti at up to EUR 3bn (US$4.75bn).
Ferretti was previously listed on the Milan exchange by Permira in 2000. The London-based buyout firm then re-acquired Ferretti in 2002 before selling down its stake to a 9.5% shareholding in 2006, when Candover bought a 60% stake in a deal which valued the company at EUR 1.7bn (US$2.69bn).
Autumn is thought to be the most likely time for the business to float.