Web Sify
Follow us on
Mail
Print

Qatar strikes 'Made in Italy' investment deal

Source : AP
Last Updated: Mon, Nov 19, 2012 13:30 hrs

An investment fund run by Qatar's government says it will team with an Italian holding company to channel up to €2 billion ($2.5 billion) to traditional Italian industries, including fashion, food and furniture design.

Monday's announcement of the four-year deal comes during a visit to Qatar by Italian Premier Mario Monti. It lists no specific companies for the new investments, but it deepens Italy's commercial links for Qatar, which already controls the Italian fashion house Valentino.

The joint venture between Qatar Holding LLC and Fondo Strategico Italiano Spa seeks to have initial capital of €300 million ($382 million) and rise in coming years.

Energy-rich Qatar has increasingly pumped cash into prominent Western luxury brands, including Tiffany & Co. and French luxury conglomerate LVMH Moet Hennessy Louis Vuitton.




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance