KKCG Maritime, a Czech 'investment firm', raised on 'Friday its voluntary offer - to increase its % stake in Italian yacht maker Ferretti up to 203.35 million euros (234.55 millions).

The revised offer, which is 3.90 euros per share, values Ferretti at 1,32 billion euros. This represents a premium of 2.7% over its last closing price as well as a premium of 35.1% over its 'price prior to the start of the offer period.

Ferretti's share capital is approximately 15.4%. The investment firm wants to acquire as many as 52.1 million shares.

It said that the increased consideration aims at boosting shareholder participation and supporting KKCG Maritime’s strategy of taking a more proactive role?in yacht maker’s development.

Ferretti said earlier this month that an independent financial advisor deemed KKCG Maritime’s initial offer of 183 million euros as "not attractive", and the 'company's independent Board Committee recommended that shareholders reject the bid.

KKCG Maritime said that it 'would not increase?the offer any further in line with Hong Kong Takeover Rules.

(source: Reuters)