Lovells has advised Singapore sovereign fund GIC Special Investments (GICSI) on its €1bn (£760m) investment in Italy's Sintonia - an investment vehicle owned by the Benetton family. The deal, which was signed on 11 March, is thought to mark the first Italian market entry by a sovereign fund, a number of which have been stepping up their investment in Europe. It saw GICSI take a 3% stake in Sintonia, with the fund subscribing to a capital increase that will see its overall stake rise to 14.3%.
March 19, 2008 at 10:36 PM
1 minute read
The original version of this story was published on Legalweek
Lovells has advised Singapore sovereign fund GIC Special Investments (GICSI) on its €1bn (£760m) investment in Italy’s Sintonia – an investment vehicle owned by the Benetton family.
The deal, which was signed on 11 March, is thought to mark the first Italian market entry by a sovereign fund, a number of which have been stepping up their investment in Europe. It saw GICSI take a 3% stake in Sintonia, with the fund subscribing to a capital increase that will see its overall stake rise to 14.3%.
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