Mediobanca and Merrill Lynch are understood to have won leading roles in the planned multi-billion euro flotation of Ferretti Group, a luxury yacht maker majority owned by buyout firm Candover, according to a banking source close to the mandating process.

UBS and another bank had also been picked for roles on the listing, the source said, although all banks contacted declined to comment. It is understood that Candover will sign contracts with the banks tonight.