October 17, 2019 / 12:10 PM / a month ago

Ferretti plans to sell stake to private investor - CEO to Reuters

MILAN, Oct 17 (Reuters) - Italy’s Ferretti plans to pursue the sale of a stake in the yacht maker to a private European investor after pulling a planned stock market listing on Thursday, the company’s head told Reuters.

“You’ll see, in 2020 a new investor will come on board,” Chief Executive Alberto Galassi said in a phone interview.

Talks with the potential investor have been going on for some time, he said.

Earlier on Thursday, Ferretti said it had decided to call off its initial public offering because of unsatisfactory pricing.

Reporting by Elisa Anzolin and Stephen Jewkes

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