Ferretti Group makes multi-million dollar offer for Wally Yachts

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Ferretti Group buys Wally Yachts.

The deal will cost the group €25-30 million, according to Italy's leading financial newspaper Corriere della Sera.

The Ferretti Group has been in talks for months with the Monegasque shipyard founded by Luca Bassani. The group recently reached an agreement with Wally Yachts. It will announce its bid for Wally Yachts in September in conjunction with the Cannes and Monaco Boat Shows.

Alberto Galassi , head of the Ferretti Group, told Corriere della Sera that the deal to buy Wally Yachts could be closed early next year, «if the conditions underlying the agreement are met».

«This transaction is very important for us, because it is an exceptional brand, very synergistic with the other brands within the Ferretti Group. But it's quite a complicated operation»," said Galassi, adding that he now has «perfect harmony in the purchase negotiations» with Wally founder and president Luca Bassani.

When the deal is closed, Wally Yachts will be the first sailing brand in the Ferretti Group. The group includes luxury motor yacht manufacturers such as Ferretti, Riva, Itama, Custom Line, Pershing, Mochi Craft and CRN.

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