Italian court rejects KKCG request to suspend Ferretti's annual meeting decision

By Reuters News

MILAN, Oct 13 (Reuters) - An Italian court has dismissed a request by KKCG to urgently suspend key resolutions adopted at Ferretti's YACHT.MI May shareholder meeting, including the appointment of the board, the Czech investor and the Italian yacht builder said on Tuesday.

  • The Court of Bologna dismissed KKCG's application for interim relief, allowing Ferretti's duly appointed corporate bodies to remain fully operational, the company said.

  • The proceedings on the merits of KKCG's challenge remain pending, both parties said in separate statements.

  • The first hearing about the merits is scheduled for November, KKCG added.

  • KKCG owns a stake of around 23% in Ferretti, while the Chinese group Weichai holds around 39.5%.

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