NEOM Investment Fund buys 6% of Italy’s Technogym for $120.8M

NEOM Investment Fund (NIF) announced acquiring a 6% stake in Italy-based leading manufacturer of wellness equipment and services Technogym, after injecting investments worth €111 million ($120.83 million), Reuters reported.

The fund purchased as many as 8.8 million shares at €9.20 each from other investors and entered a derivate solution for the purchase of a further 3.3 million ordinary shares.

NIF plans to be a long-term minority shareholder in the Italian company.

Source : Argaam