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Ferretti CEO says Chinese owner aims to cut stake through IPO


Reuters


MILAN, April 16 (Reuters) - Ferretti's Chinese owner is planning to list the Italian luxury yacht maker as a way of reducing its stake though a timetable for the deal has still not been set, the chief executive said on Tuesday.

Sources said last week Chinese conglomerate Weichai Group had lined up Barclays , BNP Paribas and UBS as global coordinators for a share sale.

Alberto Galassi told reporters no formal process for the listing had yet been launched, adding he did not see it happening before year end.






This article appears in: World Markets , Economy , US Markets , Stocks , IPOs




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