On February 23, 2010 an agreement was announced between Pendennis and Devonport Yachts Ltd., who has been the name behind the Devonport brand of superyachts and is now a partner of the well known yacht builder. The company also announced that Ernesto Bertarelli, yacht owner and two time winner of the America’s Cup, will now be a minor shareholder in the acquisition of Devonport Yachts by Pendennis.

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