THE MPS FOUNDATION TAKES FONTANAFREDDA FROM MPS BANK. ACCORDING TO THE ITALIAN DAILY ‘CORRIERE DELLA SERA - ECONOMIA’ MORE INVESTMENTS WILL NOW BE MADE IN AGRICULTURAL COMPANIES WITH THE DEMETRA FUNDS

Investments in agricultural businesses have begun with the acquisition of Fontanafredda by the MPS Foundation: this is the epilogue to the Fontanafredda story according to the Italian daily ‘Corriere della Sera – Economia’.
The Monte dei Paschi Bank of Siena had decided to sell the wine making estate, giving the negotiating options to Rothschild. And many, from Banfi-Vintners to Santa Margherita-Zignano and the Italian Wine Group, had approached the bank run by Giuseppe Mussari. But in the end it was the Monte dei Paschi Foundation itself (headed by Gabrielle Mancini) that acquired the largest wine producing company of the Piedmont Region. The operation was made possible thanks to an investment fund named Demetra, which was created precisely for a funding campaign geared solely towards agricultural producers, and which the acquisition of the Piedmont colossal is only the first step.

Fontanafredda, located in Serralunga d’Alba, produces 6 million bottles per year, including Barolo, Asti Spumante and numerous red wines. It was given a total worth of 82 million euros by Rothschild.