A British man has died after two luxury yachts crashed on the final night of the Cannes Film Festival. Maritime police and emergency services were called out to the incident on Saturday evening as the 88ft motor yacht ‘Minx’ was struck by ‘Vision’ – a boat of a similar size.The 29-year-old was one of four crew members on board ‘Minx’ and was pulling up the anchor at the front of the boat when the collision happened. He died after going into cardiac arrest.It is understood that ‘Minx’ was at anchor and ‘Vision’ was manoeuvring at the time, but a full investigation has been launched by police into the circumstances of the crash and the death.Authorities at the French Riviera port suggested they were examining whether Vision may have been speeding at the time. The investigation is being led by the Maritime Prosecutor of Marseilles, in conjunction with the Maritime Gendarmerie Research Brigade.A statement released by the fire department said: “Fire services were called around 9pm for a collision at sea. “On their arrival, the firefighters and the SMUR Cannes took care of a man in cardio respiratory arrest.”The man could not be resuscitated and died soon after. The incident took place on the final evening of the Cannes film festival, where Korean director Bong Joon-ho won the Palme d’Or for his thriller, ‘Parasite’. A 29-year-old British crew member on the yacht Minx was killed Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings. The ‘Minx’ can be chartered for around £44,000 a week and can sleep 8 guests in four rooms, and there is also room for four crew members.It operates under a British flag, and is currently up for sale for £3.5 million. A website for the vessel says it is “designed for entertaining”, adding: ” Her well appointed deck areas provide guests with the space to relax, play, entertain and enjoy their time on board.”‘Vision’ sails under the flag of Monaco and a n online catalogue appeared to show it was also currently for sale, listed for around £3.6 million.A source at the broker firm said he had spoken to the vessel’s owner, but described the situation as “too raw” to discuss. Both boats suffered significant damage, with the nose of Minx broken off and fibreglass seen splintering out from the front of the vessel. Vision had long scratch marks down the starboard side. A spokesperson for the Foreign Office said: “Our staff are assisting the family of a British man following his death in France, and are in contact with the local authorities.” Seventeen people across the two yachts were taken to shore, with the captain and crew of both being interviewed by police.