– The Abu Dhabi Investment Authority (ADIA) is considering a significant investment of at least €1 billion ($1.1 billion) in Nestlé SA’s Froneri ice cream joint venture.

– ADIA is in discussions with advisers about committing funds to Froneri, a collaboration between Nestlé and private equity firm PAI Partners, potentially valuing the venture at over $10 billion.

– Established in 2016, the Froneri joint venture operates across more than 20 countries, including Europe, the Middle East, and South America, featuring popular brands like Haagen-Dazs.

The Abu Dhabi Investment Authority (ADIA) is exploring an investment of at least €1 billion ($1.1 billion) in Nestlé SA’s ice cream joint venture, according to Bloomberg.

The UAE’s largest sovereign wealth fund is consulting with advisers to potentially invest in the European Froneri ice cream venture, a collaboration between Nestlé and private equity firm PAI Partners, sources familiar with the discussions revealed.

PAI Partners, based in Paris, has been engaging with investors to either extend its investment or maintain its 50% stake in the joint venture with Nestlé. The deal could value Froneri, which includes well-known brands like Haagen-Dazs, at over $10 billion, according to the sources.

So far, no final agreement has been reached with ADIA, and representatives from ADIA, Nestlé, and PAI have declined to comment.

Founded in 2016, the Froneri joint venture operates in over 20 countries, including those in Europe, the Middle East, Argentina, Australia, Brazil, the Philippines, and South Africa, according to PAI’s website.