The Italian government and a UAE-based private equity firm, Hawk Eye DMCC, have together picked up nearly 44% stake in Titagarh Wagons’ fully-owned subsidiary Firema SpA. The Italian government picked 30.30% stake for 10 million euros, while Hawk Eye picked 13.64% stake for 4.5 million euros. The remaining 5.5 million euros was infused by a Titagarh Group company.