According to calculations, Czech investment group KKCG announced on Monday that it had launched a partial voluntary offering to double its'stake' in Italian yacht manufacturer?Ferretti.

KKCG will present its own slate of candidates to the Ferretti board after the deal is completed.

KKCG announced that it would offer 3,50 euros per share. This represents a 21,3% premium to the?stock prices on?December 11th, the last day prior to the recent string acquisitions by Ferretti’s main shareholder, China’s Weichai Group.

Ferretti's shares ended Friday at 3.642 Euros in Milan.

KKCG said that the offer was not intended to de-list Ferretti and will stop at just below 30%, avoiding a full takeover.

Karel Komarek, KKCG chairman and founder, said: "This offer reflects a desire to increase our long-term investment and contribute to Ferretti's future growth and development." He added that the firm would support organic growth as well as acquisitions. (Reporting and editing by Thomas Derpinghaus; $1 = 0.8600 euro)

(source: Reuters)