Ferretti is reviewing the offer from The Italian Sea Group
The company is reportedly considering the purchase of all or part of the shipyard’s operations, which are headed by Giovanni Costantino
The Ferretti Group is considering a bid for the full or partial acquisition of its struggling rival, The Italian Sea Group (TISG), according to Bloomberg, which cites “sources close to the matter”. Ferretti is reportedly discussing a possible approach with its advisers should TISG (currently in difficulty due to cost overruns in most of its ongoing projects) become available on the market, the sources said. The company would consider acquiring all or part of the assets of the shipyard headed by Giovanni Costantino, including the shipyard in La Spezia, they added. The move is being considered by Ferretti’s new CEO, Stassi Anastassov, who has just taken the helm of the group.
The discussions, it appears, are at an early stage and there is no certainty that they will lead to an offer, the sources concluded, whilst representatives of Ferretti and Tisg have declined to comment on the rumours. The deal would bring together two publicly listed Italian shipyards and would represent one of Ferretti’s first major moves since the Chinese firm Weichai gained control of the board last month, beating a rival slate backed by former CEO Alberto Galassi and Czech billionaire Karel Komárek, through the company KKCG Maritime.
Ferretti, with a market capitalisation of €1.05 billion ($1.2 billion), generated a net profit of €90.1 million last year, with net turnover of €1.23 billion. Anastassov reportedly aims to play a leading role in consolidating Italia’s fragmented yachting sector. Tisg has not yet published its annual results for 2025. Its market capitalisation has fallen to around €67 million, after seeking protection from creditors in March. Total financial debt stood at €133 million in September, according to the latest available financial statements. Turnover for 2024 was €405 million.
Meanwhile, yesterday, Ferretti issued a statement in response to the summons filed on 9 June by Azur (a vehicle of shareholder Kkcg) to the Court of Bologna, seeking the nullity or annulment of the resolutions passed by Ferretti’s shareholders’ meeting on 14 May regarding the appointment of the new board of directors. Ferretti states that the legal action brought “has no impact on the operations” of the company, “whose management remains fully focused on implementing its business plan”.
Furthermore, regarding the Tisg matter, Ferretti stated in a press release that, ‘in line with its strategy of external growth’, the company ‘constantly assesses and monitors opportunities that may arise in the market’. However, he also emphasised that, regarding “any potential interest on its part in acquiring the entire share capital of The Italian Sea Group or its main assets”, at present, “no negotiations are underway in this regard, either with the aforementioned company or with its major shareholders”.
