TIM and Ardian Infrastructure, a leading global private investment company, have reached an agreement for a consortium of institutional investors led by Ardian to invest in a newly-formed holding company in which will be transferred a 30.2% share of the co-controlling stake in Infrastrutture Wireless Italiane (INWIT), currently held by TIM.
TIM has also reached an agreement with a vehicle managed and advised by Canson Capital Partners (Canson) whereby Canson will acquire a direct stake in INWIT of up to 3% of its share capital, based on the same INWIT share price used in the sale to the Consortium. On completion of the transaction, the Consortium will hold a 49% stake in the capital of the Holding Company.
On completion of the transactions, TIM will have full and exclusive control of the Holding Company and, through it, will continue to exercise joint control over INWIT together with Vodafone Europe B.V. Consortium will have minority governance rights over the Holding Company and INWIT.
