ANNOUNCEMENT 15 Jun 2018

In June 2018, the Italian sovereign fund Fondo Strategico Italiano (FSI) acquired a 41.2% stake in Italian luxury fashion company Missoni.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

FSI press release. June 15th 2018
https://www.fondofsi.it/en/press-releases/fsi-invests-missoni/

FSI buys 41.2% in Missoni group. The private equity firm will invest about 70 mln euros for growth. 18 June 2018
https://bebeez.it/en/private-equity-en/fsi-buys-41-2-in-missoni-group-the-private-equity-firm-will-invest-about-70-mln-euros-for-growth/

Inception date: 15 Jun 2018 | Removal date: open ended

Capital injection and equity stakes (including bailouts)

On 15 June 2018, the Italian sovereign fund FSI acquired a 41,5% interest in Missoni in order to support the company to carry out its development plan with a focus on international expansion. This capital injection measure will amount to up to EUR 70 (USD 81) million in equity.

In this context, Maurizio Tamagnini, CEO of FSI declares: “The investment in Missoni is an extraordinary opportunity to support the growth of this unique Italian brand into a global leader”.

Missoni is an Italian company operating in the luxury fashion sector. It is currently present in 20 countries.

Fundo Strategico Italiano 

According to its financial statement: "Fondo Strategico Italiano S.p.A. (“FSI” or the “Company”) is a public company created by Decree Law, which carries out business activities of undertaking investments in “companies of significant national interest” through investments in risk capital, while respecting the principle of the private investor operating in a market economy. FSI is a risk capital investment company that invests in companies that have the objective to grow in size, improve operational efficiency and strengthen their competitive position in domestic and international markets. FSI mainly acquires minority stakes in companies of “significant national interest” that are in a stable situation of economic and financial balance and have adequate profitability and significant growth prospects, such as to generate value for investors."

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED SECTORS