The Financial Times reported today that lenders to Ferretti SpA, the superyacht builder restructuring its assets, have agreed to sell the company to China’s Shandong Heavy Industry Group, a manufacturer of construction and agricultural machinery.
Shandong Heavy Industry will buy Ferretti after shareholders cede control of the company to lenders in order to cut debt to about €116 million ($150 million) from €685 million. The company will also receive additional funding of €180 million, according to the report.
The acquisition will take place alongside a debt writedown by lenders led by Royal Bank of Scotland, Strategic Value Partners LLC and Oaktree Capital Management. The lenders will be offered an equity stake as part of the sale to Shandong.
Although it will be under Chinese ownership, Ferretti will remain Italian in its production and style, and chairman Norberto Ferretti will continue to play a role in the company.
The deal still has to be approved by an Italian court, which could take up to three months.
Showing posts with label vladimir nedic broker sanlorenzo benetti ferretti azimut lazarra trinity baglietto hookvort oceanco custom mega-yacht super-yacht pershing riva christensen westport lursen sunseeker motor-yacht heesen. Show all posts
Showing posts with label vladimir nedic broker sanlorenzo benetti ferretti azimut lazarra trinity baglietto hookvort oceanco custom mega-yacht super-yacht pershing riva christensen westport lursen sunseeker motor-yacht heesen. Show all posts
Friday, December 16, 2011
Wednesday, November 2, 2011
Ferretti Group on the brink again
Second bailout for Ferretti
Royal Bank of Scotland and American hedge fund Strategic Value Partners (SVP) are to offer a huge cash injection into the Italian yacht builder Ferretti. The rescue plan suggested is the second for the Italian company in two years.
The bailout deal aims to invest between €150m and €180m (US$206m-US$252m), and to reduce the company's debt again, according to a report last week in Britain's Sunday Times newspaper.
The move follows a further cut in the Italian manufacturer's debt made by both financial institutions in 2009. They were part of a consortium of lenders to Ferretti that reduced the company's liabilities to approximately €600m (US$842m) from more than €1bn (US$1.4bn) in exchange for a 53 per cent stake.
The report also suggests other lenders have been given the opportunity to take part in the restructuring financing — if that offer is rejected RBS and SVP could end up owning a bigger slice of Ferretti.
The Italian yacht builders financial trouble dates back to the takeover by British private equity firm Candover. In 2007 the company financed the acquisition worth €1.1bn (US$1.5bn) almost entirely by a loan package. Then came the 2008/09 slump in sales.
"To this end, the Ferretti Group has already started talking to its main lenders, who have expressed their willingness to assess the possibility of such a restructuring process. With regard to the offer by Shandong Heavy Industry Group (SHIG), 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. In terms of its business, despite the phase of contraction that the entire nautical sector is currently witnessing, the Ferretti Group continues to operate with the usual dynamism, taking part with its prestigious brands to all the main international nautical trade shows.
Royal Bank of Scotland and American hedge fund Strategic Value Partners (SVP) are to offer a huge cash injection into the Italian yacht builder Ferretti. The rescue plan suggested is the second for the Italian company in two years.
The bailout deal aims to invest between €150m and €180m (US$206m-US$252m), and to reduce the company's debt again, according to a report last week in Britain's Sunday Times newspaper.
The move follows a further cut in the Italian manufacturer's debt made by both financial institutions in 2009. They were part of a consortium of lenders to Ferretti that reduced the company's liabilities to approximately €600m (US$842m) from more than €1bn (US$1.4bn) in exchange for a 53 per cent stake.
The report also suggests other lenders have been given the opportunity to take part in the restructuring financing — if that offer is rejected RBS and SVP could end up owning a bigger slice of Ferretti.
The Italian yacht builders financial trouble dates back to the takeover by British private equity firm Candover. In 2007 the company financed the acquisition worth €1.1bn (US$1.5bn) almost entirely by a loan package. Then came the 2008/09 slump in sales.
"To this end, the Ferretti Group has already started talking to its main lenders, who have expressed their willingness to assess the possibility of such a restructuring process. With regard to the offer by Shandong Heavy Industry Group (SHIG), 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. In terms of its business, despite the phase of contraction that the entire nautical sector is currently witnessing, the Ferretti Group continues to operate with the usual dynamism, taking part with its prestigious brands to all the main international nautical trade shows.
Tuesday, October 25, 2011
Heesen - Quinta Essentia - The Fifth element Super Yacht
The Heesen super yacht Quinta Essentia is of all-aluminium construction. Strikingly handsome in creamy-white paint and contrasting regal red. A very dramatic effect.
Designed to be semi-displacement, this powerful yacht is capable of 24 knots with a cruising speed of 18.
The owner’s choice of ship’s name was inspired by the gods of Greek mythology and their guardianship of the quinta essentia, the magical fifth element, and was intended to set the theme for the décor. In this way, the four base elements – earth, air, fire and water – would be used to express the interior, leaving the yacht as the mystical unknown element, the quinta essentia.
Even when launched, it was much remarked that the interior evoked the sensation of being aboard a 72 metre, substantiated by remarkably high ceilings and relocation of the galley one deck down. This latter decision expands the owner’s accommodation into a veritable apartment and the feeling is continued in the guest accommodation, where everything is full of natural light. General layout is for six en suites which consists of the owner’s apartment, a VIP, a twin bed cabin and three doubles, two of which will convert into an additional full-beam VIP if required.
Continuing the theme and sensation of light and space is the starboard main deck side-entrance lobby, where a spectacular spiral glass staircase, whose Bernard Pictet glasswork walls resemble frozen streams of water, surrounds a cylindrical glass lift, both of which serve three decks.
Public spaces are inviting with seating areas and big windows making maximum use of the alconies. Formal dining is on the upper deck. Forward is a semi-circle of sofas positioned so as to take advantage of the panoramic views or the entertainments centre.
Walls are of base white as are ceilings, while carpeting throughout is hand-woven white silk, within which Reverberi has introduced diminishing wave-like brush-strokes in colours indicative of the elements, while her intuitive interpretation of the guest suites is masterful. Often where other interiors offer ‘nice but untouchable’, Reverberi has achieved the opposite and made hers pleasingly livable.
Outside deck areas are magnificent. They have been planned for maximum enjoyment and comfort and with feeling of spaciousness. Quinta Essentia has a spa pool aft on her main deck. A wide curtain of water falls from the deck above. This remarkable feature is dense enough to project movies on, ensures privacy and helps keep the area cool.
Quinta Essentia navigates with state-of-the-art electronics. Underwater cameras permit viewing of the world below on any monitor on board. Another interesting feature is the side-loading float-on-float-off system for the 7.5 metre Limo tender, which has its own docking pool.
She is available for selective charter on both sides of the Atlantic.
Committed to the client. Intergrity, loyalty and dedication above all.
With its striking design, the owner and guests can see the sea from just about anywhere inside.
Designed to be semi-displacement, this powerful yacht is capable of 24 knots with a cruising speed of 18.
Even when launched, it was much remarked that the interior evoked the sensation of being aboard a 72 metre, substantiated by remarkably high ceilings and relocation of the galley one deck down. This latter decision expands the owner’s accommodation into a veritable apartment and the feeling is continued in the guest accommodation, where everything is full of natural light. General layout is for six en suites which consists of the owner’s apartment, a VIP, a twin bed cabin and three doubles, two of which will convert into an additional full-beam VIP if required.
Continuing the theme and sensation of light and space is the starboard main deck side-entrance lobby, where a spectacular spiral glass staircase, whose Bernard Pictet glasswork walls resemble frozen streams of water, surrounds a cylindrical glass lift, both of which serve three decks.
Public spaces are inviting with seating areas and big windows making maximum use of the alconies. Formal dining is on the upper deck. Forward is a semi-circle of sofas positioned so as to take advantage of the panoramic views or the entertainments centre.
Walls are of base white as are ceilings, while carpeting throughout is hand-woven white silk, within which Reverberi has introduced diminishing wave-like brush-strokes in colours indicative of the elements, while her intuitive interpretation of the guest suites is masterful. Often where other interiors offer ‘nice but untouchable’, Reverberi has achieved the opposite and made hers pleasingly livable.
Quinta Essentia navigates with state-of-the-art electronics. Underwater cameras permit viewing of the world below on any monitor on board. Another interesting feature is the side-loading float-on-float-off system for the 7.5 metre Limo tender, which has its own docking pool.
She is available for selective charter on both sides of the Atlantic.
With solid relationships worldwide, we are able to assist with the purchase, brokerage, new construction of yachts, megayachts and superyachts while being mindful of our clients confidentiality. Our integrity and resources produce a successful transaction, each and every time.
Committed to the client. Intergrity, loyalty and dedication above all.
Vladimir Nedic - Fort Lauderdale, FL
yachtBlue
1515 SE 17th Street Suite 125
Fort Lauderdale, FL 33316
954.607.1378 office
954.618.8928 mobile
Thursday, September 8, 2011
FOR SALE - Westport 130' tri-deck
A spectacular 130' Westport tri-deck with all the right options and toys. Equipped with everything needed for a fun-filled voyage.
It has been maintained to the highest standards and owned by an experienced yachtsman. It is truly a turn-key superyacht with nothing needed but a new owner.
Engines: MTU 12V4000M90
LOA: 130 ft.
Beam: 26 ft
Gross tonnage: 333
Class: ABS/MCA
Master Stateroom: On Deck: Centerline king-size bed with two nightstands, dresser, Vanity with mirror, his and her walk-in closets and private head and shower. Separate office area with desk. Entertainment center with 42” HD Plasma TV, DVD/CD player, and surround sound.
VIP Stateroom (1): Aft lower deck Port: Centerline king-size bed with two night stands, dresser, closet and private head, twin sinks and shower. Entertainment center with 32” HD TV with DVD/CD player.
VIP Stateroom (2): Aft lower deck Starboard: Centerline king-size bed with two night stands, dresser, closet and private head, twin sinks and shower. Entertainment center with 32” HD TV with DVD/CD player.
Guest Stateroom: Forward lower deck Port: Queen-size bed with two night stands, dresser, closet and private head and shower. Entertainment center with 26” HD TV with DVD/CD player.
Guest Stateroom: Forward lower deck Starboard: two twin size beds plus additional twin bunk bed, dresser, closet and private head and shower. Entertainment center with 26” HD TV with DVD/CD player.
Aft Deck: A 37” Plasma TV is located above the bar with 3 stools and is visible to the large al fresco dining table for up to 10 which converts to 2 small hi/lo cocktail tables. In the center of the aft deck are 4-oversized chairs with table.
Bow Area: Wrap around decks that lead to bow that has a seating area with table, stairs leading to the bow area of the Bridge deck which has another seating area with table that converts to sun pads that can accommodate 6 or more guests comfortably.
Sky Lounge: Fully enclosed. This favorite gathering area features plush spacious seating, a full bar with three bar stools, game table, relaxing sofa and a 50” HD TV with DVD/CD player and Surround sound. In addition there is a day head just forward of the sky lounge.
Sky Lounge Deck: Dining area, BBQ, TV.
Sun Deck: Jacuzzi with sunpads, Dining table for up to 10 guests, 52” TV that can be angled to be viewed forward or aft, 3 sun chairs, and wetbar.
For further details contact:
Vladimir Nedic - Fort Lauderdale, FL
Fort lauderdale, FL 33316
954.618.8928 mobile
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