Private Equity

Tim Sells Inwit Stakes To Ardian And Canson For EUR 1.6 Bln

by telecompaper.com posted 8months ago 25 views
(Telecompaper) Telecom Italia (TIM) has announced the sale of direct and indirect stakes in mobile towers group Inwit to a consortium led by French private equity firm Ardian, confirming earlier reports. Under the deal, TIM said the Ardian consortium is acquiring 49 percent of a newly-formed holding company where it plans to transfer a 30.2 percent Inwit stake. TIM has also agreed to sell an up to 3 percent direct Inwit stake to a vehicle managed by Canson Capital Partners, meaning the operator will cash in a total of EUR 1.6 billion from the transactions.

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