Chimera Investments, an Abu Dhabi investment fund, acquired a majority stake in Colnago, Italy’s high-end racing bike maker.
The company, which was founded in 1954 by Italian entrepreneur and inventor Ernesto Colnago, said on Twitter that its headquarters and the manufacturing plant will remain in Cambiago, about 20 kilometres north-east of Milan.
“Chimera Investments will give Colnago the ability to grow and increase its presence in all markets, while maintaining and improving the quality of its products,” Mr Colnago, 88, said.
“We have a unique opportunity with the support of Chimera to ensure that we continue to build the world’s best bikes well into the future.”
Chimera Investments said it will continue in the footsteps of Mr Colnago, the "master of the design and invention of great bikes".
"We would like to follow his path and move forward in his legacy bringing Colnago to a bright future as no one else would," it said.
Colnago, one of the biggest names in Italy’s cycling history, is known for its professional racing bikes and innovations in design.
The company's bikes have been ridden by cyclists who claimed victory at the Olympics, Tour de France, Paris Roubaix and Giro D’Italia.
Thirty cyclists from 13 countries in UAE Team Emirates are riding Colnago bikes this year.
The stake purchase in Colnago comes as Italy emerges from weeks of lockdown. The country was one of worst affected by the coronavirus pandemic.
As of yesterday, Italy had about 217,000 confirmed cases and more than 30,000 deaths, according to Johns Hopkins University, which is tracking the virus.
Measures introduced by European countries to slow down the spread of the virus have affected the cycling industry, with sporting events cancelled, factories closed and supply chains disrupted.
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
HOW TO WATCH
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MATCH INFO
Everton v Tottenham, Sunday, 8.30pm (UAE)
Match is live on BeIN Sports
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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OPTA'S PREDICTED TABLE
1. Liverpool 101 points
2. Manchester City 80
3. Leicester 67
4. Chelsea 63
5. Manchester United 61
6. Tottenham 58
7. Wolves 56
8. Arsenal 56
9. Sheffield United 55
10. Everton 50
11. Burnley 49
12. Crystal Palace 49
13. Newcastle 46
14. Southampton 44
15. West Ham 39
16. Brighton 37
17. Watford 36
18. Bournemouth 36
19. Aston Villa 32
20. Norwich City 29
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'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
European arms
Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons. Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.
