Ferretti, the Italian yacht manufacturer, plans to acquire a company or asset this year. The Chief Executive did not specify whether it would be a brand name, a yard, or something else.

Alberto Galassi, CEO of the company, told journalists that there were three files.

The executive said that the group is considering a potential buyback.

Galassi, when asked about the media speculations regarding the departure of Weichai's largest shareholder, the Chinese conglomerate, said that he didn't know, as they had never spoken to them.

Weichai owns 37.5% of Ferretti.

Galassi also said he did not know that the French luxury conglomerate LVMH was interested in becoming a group shareholder. (Reporting and writing by Elisa Azolin, editing by Giulia Segrit)

(source: Reuters)