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Permira buys Italian yacht maker for the second time.

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| October 01, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Financial News (Daily))

Permira has re-acquired Ferretti, the Italian luxury yacht maker that it floated on the Milan stock exchange in 2000 at a market capital of '382m ($377m), and now values at '675m.The first time the European buy-out firm invested in Feretti, it held it for just over two years. In that time it backed Ferretti in a series of seven acquisitions that helped increase the level of the yachtmaker's turnover six times.

It is unusual for a buy-out firm to go back into the market and take private a firm it floated. More typical is the opposite ...

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