Ferretti completes the acquisition of Sea Lion, owner of the Wally brand
The group led by Alberto Galassi increases its stake to 100% of the share capital, a key step towards full control of the brand founded by Luca Bassani Antivari.
Ferretti SpA announces, in the context of the acquisition of the Wally brand and in full execution of the agreements signed on April 5, 2019 with Dr. Luca Bassani Antivari, that it has completed the purchase of the remaining 25% of the share capital of Sea Lion Srl, previously held 75% by Ferretti. With this transaction, Ferretti increases its stake in Sea Lion to 100%, fully consolidating its participation in the company that owns the Wally brand, which is currently one of the group's strategic brands and a benchmark in the sailing and motor yachting sector.
The decision was made jointly and within the framework of a relationship of full collaboration and mutual respect, which has characterized the joint journey to date and allows the founder, Dr. Luca Bassani Antivari, to enhance the progress made in developing the Wally brand.
"I thank Luca Bassani for his excellent work with Ferretti Group, which has relaunched Wally as a global icon of sailing and motor yachting. On behalf of the group, I renew my commitment to further enhance and grow a top brand that, thanks to its innovation and prestige, is a magnificent player in the international nautical world. You will soon hear more about Wally," concluded Alberto Galassi, CEO of Ferretti Group.
“I am very pleased to have chosen the Ferretti Group to continue developing the Wally brand, with its innovation and elegance, to which I have dedicated so much work and passion,” commented Dr. Luca Bassani Antivari.
For Ferretti, strengthening its stake in Sea Lion represents a key step towards full control of the Wally brand, in line with Ferretti's long-term strategy focused on leveraging its highest-potential assets. The transaction will not have a significant impact on the group's cash flow and does not constitute a related-party transaction under applicable law.
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