Ardian Finalizes Full Ownership of INWIT with Acquisition of Tim's Stake
Deal News | Nov 29, 2024 | Ardian
Ardian, a prominent private investment firm, has completed the acquisition of the remaining 10% stake in Daphne 3 from TIM, granting it full ownership of 30.8% in INWIT, Italy's leading telecommunications tower operator. This move cements Ardian's role as a long-term strategic partner for INWIT, a company pivotal in the country's digitalization and the expansion of 5G networks. Ardian has been involved with INWIT since 2020 and has invested over 2.7 billion euros in the enterprise, making it the second-largest shareholder. The transaction, implicating a 10.43 EUR per share valuation, enhances the investor's ability to navigate INWIT's next growth phase. The dissolution of the shareholder agreement between TIM and Ardian's entity Impulse I signifies a shift in strategic dynamics, allowing Ardian to influence INWIT's growth, focusing on both organic expansion and strategic acquisitions. Ardian’s involvement underscores a shared vision for Italy’s digital transformation with a core emphasis on modernizing telecom infrastructure.
Sectors
- Telecommunications
- Private Equity
Geography
- Italy – The transaction and the companies involved are based in Italy, focusing on the enhancement of the country's telecom networks.
- Europe – Ardian's operations and influence extend throughout Europe, as evident from its continued investment in leading European infrastructure.
Industry
- Telecommunications – This industry classification is pertinent as INWIT operates as a telecommunications tower provider crucial for modern telecom network infrastructure.
- Private Equity – Ardian's role as a private investment firm making significant investments in companies like INWIT aligns with the Private Equity sector.
Financials
- 2.7 billion EUR – The total investment Ardian has made in INWIT since 2020.
- EUR 10.43 – The implied valuation per share of INWIT in this transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardian | Bidding Company/Buyer | Company | A global private investment firm that acquired full ownership of a strategic stake in INWIT. |
| TIM | Selling Company/Vendor | Company | Telecom Italia Mobile, the former stakeholder in Daphne 3, selling their stake to Ardian. |
| INWIT | Target Company | Company | Italy's leading telecommunications tower operator providing critical infrastructure for telecom networks. |
| Daphne 3 | Other Company | Company | The holding entity through which TIM held its stake in INWIT, now fully acquired by Ardian's Impulse I. |
| Impulse I | Other Company | Company | An Ardian-led entity used to complete the acquisition of Daphne 3's stake in INWIT. |