RBS takes plunge to rescue yacht maker

ROYAL Bank of Scotland and US hedge fund Strategic Value Partners are uniting to help bail out cash‑haemorrhaging Italian luxury yacht maker Ferretti.

By The Newsroom

Published 24th Oct 2011, 01:09 BST

It is understood RBS and SVP have offered to inject between €150 million (£131m) and €180m into the group, which owns the Riva and Pershing motor yacht brands.

RBS and SVP have previously participated in a debt‑for‑equity swap with Ferretti.