An Italian mutual funds investment firm acquired a majority stake in Italian lubricants and greases producer Pakelo Motor Oil, which said the deal will help enable it to build its international distribution network. Terms were not disclosed.
Alkemia SGR, with a joint investment by Italian bank Banco Ifis, indirectly acquired a majority stake in Pakelo, according to its latest company magazine, published July 24. Alkemia took over the shares of Alberto, Aldo and Rino Polacco, who simultaneously reinvested a significant minority share in the company. CEO and Chairman of the Board Alberto Polacco will lead the company and ensure the continuity of its management by holding the same role.