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MENAFN - 19/11/2012

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(MENAFN) Italy's strategic investment fund (FSI) announced that it has inked a USD2.5 billion deal with Qatar Holding to set up a joint venture in the European country, reported Reuters.

FSI added that the joint venture's total capital will be provided equally by the two sides, over the first 4 years.

The IQ Made in Italy Venture will start with USD328.20 million of capital and will be managed on equal governance conditions by both parties.

The new company will invest in Italian firms covering various sectors, including food, fashion and luxury, furniture and design, tourism and leisure.

On the other hand, Qatari Prime Minister, Sheikh Hamad bin Jassim al-Thani, stated that the two countries will ink a USD1.27 billion deal, aimed at investing in small and medium sized companies, with Qatar providing half of the total amount.

 






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