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Tuesday, January 10, 2012

The Chinese bought the Luxury Yacht manufacturer from Italy

The Chinese company SHIG-Weichai Group acquired a 75 percent stake in Europe's leading Luxury Yacht - Italian Ferretti. Transaction amounts to 374 million euros.

 The acquisition should help the Italians increasingly moving to China. In addition, for Ferretti is an opportunity to significantly reduce its debt burden. Of the total 196 million euro deal will go to refinance debt.

Ferretti company is the largest manufacturer of expensive yachts in the world. It has eight shipyards in Italy and the U.S. in Miami, where he works a total of 2000 people. The company launches the court under 8 brands including Pershing, Riva and CRN.

SHIG-Weichai based in Jinan. It produces trucks, construction equipment and other heavy machinery. In 2009 she took up production of engines for ships, acquiring French Moteurs Baudouin.

In recent months, Chinese companies are actively buying up European industrial companies. Thus, China National BlueStar Corp has acquired the Norwegian Elkem, the manufacturer of parts made of silicon and carbon for 2 billion euros.

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