Qatari, Italian funds invest USD205m in Italian Inalca
16 Nov 2014
(MENAFN) Italian and Qatari investors announced they have acquired USD205 million worth of stake in Inalca, a meat producing company, in a deal that is the first to be made by the two investment partners, Arabian Business reported.
Under the deal, the Qatari, Italian joint venture will buy a 28.4 percent stake in Inalca, which is currently wholly owned by Italian food producer and caterer Cremonini.
The joint venture between Italian state-backed private equity fund Fondo Strategico Italiano (FSI) and Qatar Holding, a fund created by the Qatar Investment Authority, was signed last year with an objective of investing in a range of Italian companies in the food, fashion and luxury, tourism and leisure sectors.
“With this investment we aim to support the distribution of food ‘made in Italy’ abroad,” FSI chief executive said.
FSI, which also has a similar arrangement with Kuwait’s sovereign wealth fund, announced that it made another investment, worth USD95.15 million in the Rocco Forte hotels group with the Kuwait Investment Authority.