ANNOUNCEMENT 19 Nov 2012In November 2012, the government of Italy announced a change in private-sector financial support.
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On 19 November 2012, the Fondo Strategico Italiano (FSI, holding company controlled by the Cassa Depositi e Prestiti, a public Ltd) and the Qatar Holding LLc (QH, a global investment house founded by the Qatar Investment Authority and licensed by the Qatar Financial Centre Authority), signed an agreement to set up a joint venture named 'IQ Made in Italy Venture'.
The venture will be endowed with a capital amount of up to EUR2 billion (US$2.59 billion) to invest in Italian companies operating in the so-called 'Made in Italy' sectors: food, food distribution, fashion and luxury, furniture and design, tourism, lifestyle and leisure.
The venture will be run by FSY and QH on equal governance terms and the capital will be equally provided by the two.