“Wally is an extraordinary company founded by Luca Bassani, that combines well with the Ferretti Group brands, but it is a very complex operation,” Ferretti CEO Alberto Galassi is quoted as saying. “An agreement could be reached by the beginning of next year if the conditions are agreed.”

The proposed acquisition is complicated by the fact that Ferretti has been actively seeking a dedicated production site to build its maxi yachts, probably in Liguria or Tuscany, but Wally has no shipyard of its own. An official announcement is expected shortly, probably during the Cannes Yachting Festival.

With a production value amounting to €623 million in 2017 and backed by its Chinese stakeholders Weichai (Piero Ferrari has a 13.2% share in the group), Ferretti is one of very few brands in Italy with the financial muscle to consider the supposed €25-30 million asking price.

“We are completely in tune with Luca Bassani and if we’re able to finalise the agreement we intend to collaborate with him,” concludes Galassi.

If everything will be successful, Ferretti will debut in the sailing yachts world and Wally will join a remarkable portfolio of brands, such as Ferretti Yachts, Itama, Mochi Craft, Pershing, Riva, CRN and Custom Line.