Vetroarredo: Prudentia acquires stake

The Prudentia closed-end fund, which is managed by Italian venture capitalist Fidia, bought a 10.7% stake in glass brick producer Vetroarredo, based in Florence, central Italy, for EUR 3.0 million, Fi…

The Prudentia closed-end fund, which is managed by Italian venture capitalist Fidia, bought a 10.7% stake in glass brick producer Vetroarredo, based in Florence, central Italy, for EUR 3.0 million, Fidia said on 21 May 2002. Fidia expects to complete the acquisition of Vetroarredo, Fida added. Vetroarredo posted a net profit of EUR 13 million for 2001, versus EUR 3.5 million for the previous year and a turnover of EUR 71 million for 2001, a 46% year-on-year increase.