Shandong Heavy buys Italian luxury yacht maker

China's Shandong Heavy Industry-Weichai pays €374 million for a controlling interest in luxury yacht maker Ferretti.

Shandong Heavy buys Italian luxury yacht maker

China’s hunger for acquisitions abroad continues unabated. Yesterday, Shandong Heavy Industry-Weichai announced it was buying a controlling interest in the world’s biggest luxury yacht maker, Italy’s Ferretti.

That a Chinese company would step up to the plate and help the struggling luxury yacht maker makes sense wealthy Chinese are the target market these days. “China is one of the most rapidly developing countries for the yachting sector and has great potential for the coming five...

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