TIM and Ardian finalized the agreement announced on June 24 for a partial sharing of the investment in Infrastrutture Wireless Italiane (INWIT).
The operation consists of the purchase by a consortium of institutional investors led by Ardian of 49% of Daphne 3, a newly established holding company controlled by Tim in which Tim contributed 30,2% of INWIT's share capital. The holding takes over from Tim - for the portion of INWIT shares transferred - in the shareholders' agreement in place between Tim and Vodafone Europe BV, under which the latter jointly control Inwit.
She also entered the operation Canson Capital Partners who acted as Merchant Banker in the consortium led by Ardian. Canson - specifies a note from the company - with the financial support of the Azimut Group, has completed the direct acquisition from Tim of a 1,2% stake in the share capital of Inwit and has reached an option agreement for the direct acquisition from Tim of an additional stake of up to 1,8% of Inwit.
Canson joined Marco Patuano, former CEO of TIM and former CEO of Edizione Holdings, as a sector expert for the consultancy to the consortium led by Ardian and the realization of the investment. Marco Patuano will be appointed President of Daphne 3.
Matteo Canonaco, co-founder of Canson, underlined that “this operation demonstrates once again the validity of the Canson business model in which we identify alternative solution capital for specific strategic situations in partnership with companies. Together with our leading role as advisor and co-investor in the carve-outs of Refinitiv and Kantar, this transaction represents a further milestone for the strengthening of our track record in merchant banking and establishes a privileged relationship with Azimut, the main asset Italian independent manager.”
Pietro Giuliani, president of Azimut noted that “being able to participate in this transaction together with Canson Capital Partners and Marco Patuano is a source of pride and a further demonstration of the significant investment opportunities that we can exclusively offer to our clients. In particular, with this transaction we participate through a leading operator in the development of the telecommunications infrastructure which will be of vital importance for the recovery of the economic cycle of our country and its future development."
