After a long negotiation, Enel sold its stake in the capital of Open Fiber. The electricity group communicates it, specifying that the contracts were signed on Wednesday evening and that it is cashing in from the operation two billion and 650 million euros.
There are two buyers: the Australian fund Macquarie Asset Management, which confiscates 40% of Open Fiber for two billion and 120 million euros, e Cdp Equity, which gets its hands on an additional 10% of OF for 530 million.
The Cassa Depositi e Prestiti group thus rises to 60% of the capital, already having in its portfolio the other half of the company which is responsible for bringing infrastructure for broadband internet connections throughout the country.
Enel explains that the stake sold to Macquarie includes “the transfer of 80% of Enel's portion of the shareholders' loan granted to Open Fiber - reads the note - including accrued interest. In line with what has already been announced to the market, the contract provides that the consideration indicated above will be increased at an annual rate of 9% calculated starting from 2021 July XNUMX and until the closing of the transaction".
On the other hand, CDP Equity receives the remaining 20% of Enel's portion of the "shareholders' loan" granted to Open Fiber, "including accrued interest".
Enel announces that the closing of the transaction is expected in the last quarter of 2021.
As a result of the change of ownership, Elisabetta Ripa, the current CEO of Open Fiber, is destined to leave the scene who - on behalf of Enel - will try to replicate the OF model in South America, where the electricity giant led by Francesco Starace has a strong presence. For the leadership of Open Fiber, the name of Mario Rossetti is mentioned, who could be promoted to general manager.
