Ferretti S.p.A., an Italy-based designer, developer and marketer of motor yachts, has entered into an agreement to sell entire stake in Apreamare S.p.A., an Italy-based manufacturer of boats and luxury motor yachts, to The Aprea and Pollio families, the founders of the Sorrento brand. The deal is set to be closed by the end of March 2010.
The sale will include the nautical pole in Torre Annunziata, which boasts 125,000 square meter of total floor space, including 53,000 square meter of indoor space, and a private wet dock with about 100 mooring spaces.
Linklaters LLP is acting as legal advisor and Intermonte SIM as financial advisor to Ferretti. Equita SIM S.p.A. and Bambino & Partners are acting as financial advisors and Latham & Watkins as legal advisor to The Aprea and Pollio families on the transaction.