Ferretti

[Latestarter1]

Well yup. Princess, Fairline, Sunseeker, Sealine, Oyster, Bavaria, Canados and more are all private equity owned. The current owners will be looking for exits in the next 2-5 years (in at least one case much sooner) and Chinese buyers will take a look. No matter: we're a small island here in the uk and inward investment is good

Can somebody help me here as I am out of my depth.

#1 Company from China purchases heavily indebted (To RBS) Italian boatbuilder. My read is that reckless RBS loans are finally paid back...Outcome surely good??

#2 The current owners will be looking for exits in the next 2-5 years (in at least one case much sooner). My read is simple, how can temporary private equity ownership be be of any LONG TERM benifit. Southern Cross, profitable buisiness, purchased by private equity, stripped of assets and then re-sold as poison pill.

#3 'No matter: we're a small island here in the uk and inward investment is good'. My read having worked for major UK manufacturer based overseas, the profits go back home??

 

[Deleted User YDKXO]

#1 Company from China purchases heavily indebted (To RBS) Italian boatbuilder. My read is that reckless RBS loans are finally paid back...Outcome surely good??

Doesn't look like it. Lenders had to write off large proportion of their debt in exchange for shares in new company. RBS only one of the lenders btw

#2 The current owners will be looking for exits in the next 2-5 years (in at least one case much sooner). My read is simple, how can temporary private equity ownership be be of any LONG TERM benifit. Southern Cross, profitable buisiness, purchased by private equity, stripped of assets and then re-sold as poison pill.

Probably jfm best answering that one but private equity doesn't invest in a company to see it go bust. It invests to make it grow and yes, strategy may be to sell out after 5yrs or whatever, but aim is to leave company more valuable than when it was bought. Also private equity often steps in to save a company when banks are refusing to lend so sometimes they save jobs too

#3 'No matter: we're a small island here in the uk and inward investment is good'. My read having worked for major UK manufacturer based overseas, the profits go back home??

I suppose answer to that is where would you rather an overseas company invested? In the UK and at least providing jobs, paying taxes and providing business for local suppliers or somewhere else and we lose out altogether. Profit for shareholders is only one part of the value that inward investment brings for all stakeholders

 

[grumpy_o_g]

So will Ferretti bathrobes now have Shandong Heavy Industry Towelling on the pockets? That could seriously damage the US and UK market opportunities if they decide to abbreviate

 

[MapisM]

There's obviously some meaning of shig which I'm missing. Care to enlighten me?
I'd have understood if the last letter were T, or the third A...

 

[Deleted User YDKXO]

So will Ferretti bathrobes now have Shandong Heavy Industry Towelling on the pockets? That could seriously damage the US and UK market opportunities if they decide to abbreviate

Heh, heh, the Ferretti branded crockery, cutlery and glassware on my boat would be worth a fortune