Symbol of the Italian house: the Chinese got the oldest company in Italy

The symbol of Italian espresso and the Italian way of life passes into the hands of the Chinese. We are talking about the company Bialetti, which is more than a hundred years old. Details are given by the publication Gazeta.Pl .

The closing of the deal with Luxembourg-based company Nuo Capital, headed by Chinese tycoon Steven Cheng, is expected in June.

Nuo Capital has reached a preliminary agreement with Bialetti Investimenti and Bialetti Holding, companies controlled by Italian businessmen Francesco Ranzoni. We are talking about the acquisition of 59% of shares for almost 47.5 million euros.

Thus, Steven Cheng will receive 80% of Bialetti's share capital.

"I bought this wonderful brand more than 30 years ago. Today, the company has an international reach and great potential," said the former owner Francesco Randzoni, who is now parting with the traditional Italian business.