ROME, April 16 (Xinhua) -- Bialetti, the Italian maker of the stovetop Moka coffee pot, is set to be sold to NUO Capital, an investment fund based in Luxembourg.
According to the Italian Stock Exchange, NUO Capital, led by a Hong Kong-based entrepreneur, will pay more than 53 million euros (60.4 million U.S. dollars) for a stake of around 78.5 percent in Bialetti.
Shares in Bialetti on the Milan-based exchange surged over 60 percent during trading on Wednesday, marking the highest trading volume in at least a year. The shares closed at 0.45 euros apiece.
The deal is pending regulatory approval.
Bialetti has struggled in recent years amid growing competition from capsule-based coffee machines. (1 euro = 1.14 U.S. dollar)
