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The Italian Mocha pot pioneer Bialetti has changed hands with a Chinese enterprise   The Luxembourg-based Nuocheng Investment Company, which is affiliated with Chinese business tycoon Stephen Cheng, has completed the signing of an acquisition agreement to acquire 78.567% of the shares of Bileti Company. Subsequently, a tender offer will also be launched to delist Biletti from the Milan Stock Exchange. Nuocheng Investment first reached an agreement with Bialetti Investimenti and Bialetti Holding to acquire 59.002% of the shares at a consideration of 47.334 million euros. In addition, Nuocheng Investment signed a second acquisition agreement with Sculptor Ristretto Investment to acquire approximately 19.565% of the shares for a total consideration of 5.731 million euros. Therefore, under these acquisition agreements, Nuo Octagon may also acquire a total of 78.567% of the share capital of Bileti Company from the seller through other companies directly or indirectly controlled and designated by it as acquirers. The transaction is expected to be completed by the end of June 2025. Subsequently, Nuocheng Investment will launch a full tender offer for the shares of Bileti Company listed on the Milan Stock Exchange, with an acquisition price of no less than 0.467 euros per share. After the tender offer is completed, the acquirer plans to push for the delisting of Biletti's shares. This acquisition is part of a larger-scale transaction related to the debt refinancing of Bileti Company, and the debt restructuring agreement is precisely centered around Bileti Company's debt issues. Specifically, according to the debt restructuring agreement, the existing debts of Biletti Company will be refinanced. There will be a subprime financing of up to 30 million euros, provided by illimity Bank and Amco Asset Management Company. There is also a senior financing with a maximum amount of 45 million euros, jointly provided by Banco Bpm, Bper and Banca Ifis. Nocheng Octagonal Investment Company is also expected to inject at least 49.5 million euros of equity funds, thereby significantly reducing the debt of Bileti Company.

Coffee enthusiast: How to brew coffee with a Mocha pot? Mocha pot   The history of Moka teapots   The Moka Pot is a tool used for extracting espresso. It is widely used in European and Latin American countries and is known as the "Italian drip pot" in the United States.   The earliest Moka pot was made by the Italian Alfonso Bialetti in 1933. His company Bialetti has always been renowned worldwide for producing this coffee pot called "Moka Expres".   The Mocha pot has a two-layer structure. When the water placed in the lower part boils, it will be sprayed into the upper part of the pot through a mesh filter filled with coffee grounds. Although hot water can be poured into medium-fine ground coffee without using air pressure, strictly speaking, this cannot be regarded as concentrated extraction but is more like drip extraction. However, the coffee made in a mocha pot still has the concentration and flavor of Italian Espresso. The working principle of a Moka teapot   How to brew coffee with a Mocha pot?   Tools/materials   a. An appropriate amount of fresh coffee powder   b. One Mocha pot   c. Gas stove or induction cooker   d. An appropriate amount of hot water/cold water   2. Usage process   When using a pressurized kettle: Pour hot or cold water into the upper kettle until it is marked with H2O (do not exceed this point), and then pour the water from the upper kettle into the lower one.   When using a classic kettle: Pour hot/cold water into half of the safety valve of the lower kettle.   It should be noted that if hot water is used, it should be freshly boiled and water left overnight should not be used. If cold water is used, purified water should be used.   b. Filling the coffee powder: Pour the coffee powder into the powder trough to form a small hill shape. Gently tap the periphery of the powder trough, then smooth it out. Place the powder trough into the lower pot and lock the upper and lower POTS tightly.   c. Heating Coffee :(If using a household gas stove, reduce the heat source to no more than the base of the mocha pot to avoid burning the coffee and damaging the Mocha pot. If using an induction cooker for heating, just press the heating button.)   d. When using a pressurized kettle: Once a steam sound is heard, remove the Moka kettle from the heat source and complete the operation.   When using a classic pot: When the coffee starts to flow into the upper pot intermittently, you can remove the mocha pot from the heat source and complete the action. Mocha pot   Precautions for Use   Water level: Use hot water. The water level should be 0.5 centimeters below the safety valve. When the pressure of the lower pot is too high, the safety valve will automatically release pressure to prevent safety accidents. If the water level is higher than the safety valve, the function of the safety valve cannot be exerted normally. Coffee powder: The coffee powder should be of medium to fine particle size. Fill the powder trough. When filling, vibrate the trough appropriately to ensure even distribution of the coffee powder. After filling, gently press the surface with your fingers to make the powder denser. Do not press the coffee grounds hard. Process analysis     Initial heating: After the lower pot is heated, the air part expands due to heat, generating pressure. Water then reaches the powder trough through the guide pipe of the powder trough. When coffee grounds are soaked in water, they expand rapidly and form powder cakes. At this point, the water in the lower pot is resisted by the powder compact, and the pressure in the sealed lower pot continues to increase. The purpose of initial heating is to raise the water level to the position of the coffee powder trough, allowing the coffee grounds to form cakes. Therefore, high pressure and high temperature are not required; a low heat is sufficient. If you open the lid of the upper pot and observe, a small amount of coffee liquid will flow out at this time, and then the coffee liquid will no longer flow out. Pressurization: After the coffee in the coffee pot forms cakes, the pressure of the lower pot starts to increase. Turn the heat to medium to allow the pressure to continue to rise. Extraction: High heat. Increase the pressure of the lower pot to balance with the resistance of the coffee powder cake. Turn on the high heat and let the pressure of the lower pot exceed the critical point of this balance. Under the continuous effect of the high heat, the water will quickly pass through the coffee powder cake, obtaining a fully extracted and well-balanced coffee liquid. Nurturing the teapot: Turn off the heat. Turn off the heat immediately when there is a hissing sound of steam from the coffee liquid pipe. Then let the coffee pot stand for about 30 seconds. The water guide pipe of the lower pot is at an appropriate distance from the base of the lower pot. If the heating continues, there will still be high-temperature water passing through the powder trough. At this time, the extracted coffee will have a residual coffee flavor. In addition, if the lower pot is shaken, the pressure of the lower pot will increase intermittently, or due to the imbalance of the water level in the lower pot, there will still be water passing through the powder trough. Both reasons lead to excessive coffee extraction or overburning. Flavoring: Remove the coffee pot from the stove. At this point, the coffee pot still needs to be left to stand for about 30 seconds to 1 minute. Because the coffee extraction process goes through three different stages, it needs to be re-blended during the standing process. Coffee that has been aged will no longer have an uneven distribution of sweetness and bitterness, but will be very mellow.   Operation effect review   After pouring out the coffee liquid, wait for the coffee pot to cool down (or rinse the lower pot with cold water to cool it down), unscrew the upper pot, and observe the powder cake in the powder tray. At this point, the powder compact should be completely in a cake shape, without any collapse or voids. If there are collapses and cavities, the effect of coffee extraction will not be good either. Press it with your fingers. It should be dense and slightly elastic.