Czech investment group 'KKCG' announced on Monday that it would make a voluntary offer of up to 182 millions?euros ($212m)?to increase its stake in Italian Yacht maker Ferretti, and also push for a management change.

KKCG has made an offer that values Ferretti at 1.2bn euros, according to calculations. This comes after a series of share purchases by China's Weichai - the main shareholder in the group - drove the'stock price' higher.

KKCG's bid of 3,50 euros per share was a 21.3% increase over Ferretti shares on December 11th, the last trading day prior to Weichai acquiring more shares.

Ferretti's Milan listed shares had not changed much by 0858 GMT, and were trading at 3,64 euros per share. Shares of the company are also traded in Hong Kong.

KKCG, who owns 14.5% Ferretti via its KKCG Maritime division, said it would nominate its own candidates to fill the new Ferretti Board.

It said it did not have any plans to take Ferretti Private, and that its target was a stake just below the 30% threshold required for a full takeover.

Karel Komarek, founder and chairman of KKCG, said that the firm's offer reflected its ambition to?strengthen our long-term investments in Ferretti?and?contribute towards its future growth and development.

UniCredit was the lead financial advisor for this offer.

(source: Reuters)