China's Weichai Group has rejected a partial acquisition offer from KKCG for Ferretti SpA, escalating tensions between the Italian luxury yacht maker's top shareholders. The disagreement sets up a confrontation at Ferretti's upcoming annual meeting.

KKCG, Ferretti's second-largest stakeholder, proposed acquiring additional shares in the cash-strapped company. Weichai's rejection signals unwillingness to cede control amid ongoing financial pressures. The dispute threatens Ferretti's fragile recovery efforts following pandemic-related setbacks.

Investors are watching closely as both parties hold significant influence over Ferretti's strategic direction. The outcome could determine whether the company pursues independent restructuring or accepts external investment. Market observers expect heightened volatility in Ferretti's share price leading up to the vote.

Analysts suggest this conflict reflects broader challenges facing European luxury goods firms dependent on wealthy Asian buyers. Ferretti's performance remains sensitive to discretionary spending trends among high-net-worth individuals.