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Kuwait Investment Authority (KIA) and Fondo Strategico Italiano (FSI) announced an imminent agreement amid Italian Prime Minister Enrico Letta’s visit to countries in the Persian Gulf region
The agreement – to be signed in March – foresees the founding of a new company, 80% owned by FSI, and 20% held by KIA, with the latter investing €500 million.
The vehicle will invest in FSI’s entire perimeter, except in sectors excluded by the KIA bylaws.
KIA’s decision to found a company with FSI reflects the Kuwaiti sovereign wealth fund’s opinion that FSI is the ideal vehicle for investing in Italy.
FSI confirms its objective of being a point of attraction for foreign capital in Italy:
The Italian delegation in the visit to Kuwait included Franco Bassanini, Cassa depositi e prestiti - FSI’s controlling shareholder – and the fund’s top management : Chairman Giovanni Gorno Tempini and Chief Executive Officer Maurizio Tamagnini.
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