Asterion completes acquisition and delisting of Retelit S.p.A
- The Voluntary Tender Offer launched in May 2021 has been successfully completed and Asterion owns now 100% of fully delisted Retelit.
- Announcement of a new Board of Directors at Retelit, fully backed by Asterion.
- Asterion and Retelit will work to create one of the leading alternative communications infrastructure and ICT service providers in Italy
1st December, 2021 – Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, announces the successful completion of the squeeze-out procedure and acquisition of 100% of Retelit S.p.A. (“Retelit”, “Company”), a leading independent fiber operator of a network covering more than 15,000 kms of fiber in Italy and provider of ICT services.
Asterion launched a Voluntary Tender Offer (“VTO”) for Retelit on the 30th of May 2021 and on the 25th of September, Asterion completed the acquisition of a 64.7% stake in Retelit following the initial Tender Offer period. Since then, including subsequent open market purchases, additional shares tendered in the Offer Reopening period, Sell-Out and Squeeze-Out procedures, Asterion has now acquired 100% of Retelit. The Company’s shares, which were previously listed on the STAR segment of the Italian Mercato Telematico Azionario (MTA), have been delisted as of the 29th of November.
The successful outcome of the VTO will allow Asterion to fully support Retelit in achieving its strategy and growth potential. Asterion believes that Retelit, as a private company, will be better positioned in pursuing growth opportunities, by taking advantage of a simplified shareholding structure and direct access to flexible private capital, as well as being able to pursue its industrial approach for value creation resulting from deep knowledge and expertise in the telecoms sector in Europe.
Asterion is also pleased to announce that on the 30th of November it has appointed a new Board of Directors for a three-year term in the company.
Jesús Olmos, founding partner and CEO of Asterion Industrial Partners, said: “We are very pleased with the outcome of the tender offer and excited about Retelit’s prospects to become one of the leading alternative telecommunications infrastructure and service providers in Italy.”
ABOUT ASTERION INDUSTRIAL PARTNERS
Asterion Industrial Partners is an independent investment management firm focusing on infrastructure investments in the European mid-market. Headquartered in Madrid and with presence in London and Paris, Asterion combines transactional and operational experience with an industrial approach and active asset management within an independent and nimble platform. Asterion aims to promote operational transparency, responsible investment practices, best-in-class governance and a strong culture both for itself and in the companies in which it invests.
ABOUT RETELIT S.p.A
Retelit is an Italian leader in constructing tailor-made digital transformation projects, executed on entirely Group-managed platforms. The Retelit Group offers its connectivity services to national and international operators and OTT’s for their connection and capacity needs. The Retelit Group’s offering supports international carriers and content providers with B-end connectivity solutions, capillary infrastructure and sector expertise. Due to its infrastructural and data transmission offers, Retelit is a leading player in the Italian wholesale market. The Retelit Group also provides integrated solutions for consulting, technology and digital services to enterprises (across various sectors) and the public sector. These solutions leverage on proprietary platforms and partnerships with system integrators and national and international operators, entirely channeled through a single contact point at Retelit.