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Eataly clinches €120 million investment

Italian food company Eataly has sold a 20 percent stake to Tamburi Investment Partners (TIP), as part of a plan to list the rapidly-expanding retailer on the stock exchange in 2016/2017, the buyer said on Monday.

Published: 11 March 2014 11:44 CET
Eataly clinches €120 million investment
Eataly was established in 2003. Photo: Eataly

The Milan-based investment firm paid €120 million for its stake in Eataly, paving the way for the food company’s global expansion.

Since being established in 2003, Eataly has opened retail outlets across Italy and internationally, and this year expects to reach €400 million in consolidated revenues, TIP said in a statement.

Despite the challenging business climate in the Italian market, Eataly has succeeded in marketing itself as offering high-quality products to customers at home and in outlets in New York, Dubai and elsewhere.

A new store in Florence has recently opened, while plans are in place for a Milan outlet and further expansion in the US.

SEE ALSO: My Italian Career – Director, Rome Eataly

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STOCK

Oslo Børs sees biggest fall since financial crisis

Oslo’s stock exchange has suffered its biggest decline since the financial crisis hit in 2009, with its shares tumbling a full 6.3 percent as China’s stock market crash reverberates around the world.

Published: 24 August 2015 15:27 CEST
Oslo Børs sees biggest fall since financial crisis
Oslo's Stock Exchange building. Photo: George Rex/Flickr
Several Chinese indices fell by around eight percent in early trading on Monday, as a stockmarket boom largely powered by Chinese retail investors came to a dramatic end. 
 
Norway stockmarket was one of the worst affected in Europe, as China’s slowdown is expected to drag down on the oil markets that are such an important part of its economy. 
 
Of the 167 companies listed on the index, only four small and insignificant companies saw their shares rise.
 
“When you look at how quickly markets have fallen in the last few days it seems that there is an overreaction,” Paul Harper, equity strategist at DNB Markets told Norway’s Aftenposten newspaper
 
“What is happening in the Chinese stock market is not that important for European markets, the stock exchanges in Europe and the US are reacting to weak macroeconomic data from China,” he said. 
 
Market observers have been watching China anxiously for weeks as the country suffers an abrupt slowdown in economic growth.
 
The latest loss of value comes in spite of massive Chinese government efforts in recent weeks to shore up markets in the country.
 
Shanghai’s stock market has now lost all of the value it had added in the course of 2015.