Financial Times FT.com

Ferretti debt restructuring deal approved

By Martin Arnold in London

Published: April 8 2009 19:56 | Last updated: April 8 2009 19:56

Ferretti, the ailing Italian yachtmaker, on Wednesday secured approval from its lenders for a debt restructuring deal that will see Norberto Ferretti, its founder and chief executive, invest fresh money to keep control alongside its banks.

The deal, which followed last-ditch talks to convince one reluctant bank, required unanimous approval from all classes of lenders.

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