Venture capitalist, Bain Capital has been forced to sell Bavaria Yachtbau for a loss of 300 million Euros, according to reports in the financial press.

The company’s 1.3 billion Euro gamble in 2007 included 900 million raised from two investment banks, which have also suffered huge losses on the resale.

So-called ‘distressed debt’ investors US-based Oaktree Capital Management and Anchorage Advisors are set to acquire Bain’s debt for around 30% of its original value.

On the boat-building front, the news recently has been good for the German yacht building company with a 2010 European Yacht of the year nomination, a major expansion at its Giebelstadt yard and the successful introduction of the Cruiser 55 and the new Sport 28 to the power market at this year’s Southampton Boat Show.