Asterion enters into agreements for the acquisition of a 24.1% stake in Retelit

October 1, 2020 – On September 30, Marbles S.r.l., a company indirectly owned by Asterion Industrial Infra Fund I, FCR, a fund managed by Asterion Industrial Partners SGEIC, S.A., has entered into agreements for the acquisition, directly and indirectly, of an aggregate stake representing 24.10% of the share capital of Retelit S.p.A., a company listed on the STAR segment of the MTA. Specifically:

  • Marbles has executed with Athena Capital Fund SICAV-FIS S.C.A., Oak Tree S.r.l. and Pilota S.r.l. an agreement for the acquisition of the entire capital of Fiber 4.0 S.p.A., a company that owns 22,771,615 shares, representing a 13.86% stake in Retelit’s share capital. The purchase price for 100% of Fiber 4.0 is approximately €49.7m and is based on a value per Retelit share of Euro 2.85. The closing of the acquisition is set to occur on October 27; and
  • Marbles has also entered into an agreement with Axxion S.A. and an agreement with Frankfurter for the acquisition of stakes representing, respectively, 9.99% and 0.24% of Retelit’s share capital, at an aggregate price of, respectively, €41.9m and €1.0m, in each case equal to Euro 2.55 per Retelit share. The acquisition of these two stakes is conditional upon the consummation of the acquisition of Fiber 4.0 and the receipt of Italian “Golden Power” and antitrust clearances.

Marbles will make the required disclosures within the relevant statutory deadlines.

Retelit is one of Italy’s leading independent wholesale providers of fibre services, with a platform of ~14,000 km of fibre, including metropolitan networks in top 14 cities, connecting more than 6,000 on-net sites. Incorporated in 1999 and listed on the Milan stock exchange since early 2000’s, the Company offers a combination of wholesale access, B2B connectivity and ICT solutions and services to its customers, which range from large TelCos to small/mid-sized corporates.

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.

 

 

IMPORTANT INFORMATION

 

This press release does not constitute an offer to sell or the solicitation of an offer to buy interests in Asterion Industrial Infra Fund I, FCR or any other security in any jurisdiction and shall, in any circumstance, not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.