KKCG Maritime, part of Karel Komárek's KKCG group, said on 19 January 2026 it would launch a voluntary partial tender offer for Ferretti at €3.50 per share to raise its stake from 14.5% to 29.9%.
Why KKCG Maritime (KKCG) is buying Ferretti S.p.A. (partial stake)
KKCG said the offer would give other shareholders a chance to sell part of their holdings in a thinly traded stock and allow it to use higher voting rights to support its board nominees at the next annual meeting. It said the bid was not intended to delist Ferretti and would not take it above the 30% mandatory-offer threshold.
“This offer reflects our intention to build on our long-term investment in Ferretti”
Deal terms and financing
The offer covered up to 52,132,861 shares for a maximum of about €182.5m, a 21.3% premium to Ferretti's undisturbed Milan price on 11 December 2025, with pro-rata allocation if oversubscribed. KKCG later raised the price to €3.90 a share.
Regulatory approvals and timing
The offer ran from 16 March to 13 April 2026 under Italian and Hong Kong rules. It closed with acceptances for 29,611,598 shares, 56.8% of those sought, giving KKCG an indicative stake of about 23.4%, according to Pressmare.
Market context
Ferretti is listed in Milan and Hong Kong. On 13 March its board recommended that independent shareholders reject the offer, calling the consideration unreasonable, after FIH, the Weichai-owned main shareholder, had already rejected it, according to Il Sole 24 Ore.
