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Fondo Strategico Italiano Spa (FSI) announces that the company’s board of directors, meeting today under the chairmanship of Giovanni Gorno Tempini, has approved the draft financial statement for 2012. The year closed with a net profit of 14.4 million euros
During its first year of activity, (following the creation of the Investment Committee in January 2012), FSI established itself as one Italy’s principle stock market investors in terms of capital endowment, pipeline and execution capacity.
During 2012, FSI acquired 18.6% of Kedrion Group for 75 million euros and underwrote a convertible loan for a further 75 million euros redeemable by Kedrion; by way of a 198.7 million-euro capital increase, FSI bought 46.2 percent of Metroweb Italia; it signed an agreement with Hera to purchase between 2.6% and 6% of the company resulting in the merger with Agegas APS, for up to 100 million euros.
IQ Made in Italy Investment Company
On 3 February FSI signed an agreement with Qatar Holding for the creation of a joint venture on equal terms worth 2 billion euros. The company will invest in Italian companies that respect the criteria set out by FSI, operating in the following sectors:
Bank of Italy Invests in Capital
Following the 19 December 2012 agreement between FSI, Cdp and the Bank of Italy, the central bank will become an FSI shareholder with a stable minority stake through the transfer of its 4.47% of Generali shares.
FSI will dispose of the holding in Generali on market terms by 31 December 2015. The operation will result in the issue of new ordinary shares in an amount sufficient to ensure that the Cdp Group retains a stake of not less than 80% in FSI.
At the end of the operation, FSI’s underwritten and paid capital will total more than 4 billion euros. The completion of the capital increase is expected by the end of March 2013.
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