Ardian and KKR-backed investors explore €6.3bn INWIT take-private
Ardian and a consortium of investors led by Oak Holdings 1 are working on financing arrangements for a potential take-private of Italian telecom tower operator INWIT, as the company faces contractual disputes with its two largest customers, according to a report by Reuters.
Italian telecom tower operator INWIT is under consideration for a potential takeover by a group of investors, including Ardian, Oak Holdings 1, Vodafone, KKR, and Abu Dhabi-based sovereign investor Mubadala. These investors are in talks to finance a proposed deal, although no final decision has been made. Ardian, which holds a 32% stake in INWIT, is leading the consortium alongside Oak Holdings 1, which is backed by GIP, Vodafone, and KKR.
French private equity firm Ardian and Oak Holdings 1 together own 71% of the company's shares, with Oak Holdings owning an additional 39%. Discussions with banks are ongoing, and potential acquirer Mubadala is expected to join the group. The transaction is being explored as INWIT faces contractual disputes with its two largest customers, Telecom Italia (TIM) and Swisscom-owned Fastweb, which have initiated procedures to terminate their existing tower agreements.
These disputes have negatively impacted INWIT's valuation, with its market capitalization falling to approximately €6.3bn ($7.1bn) - a decline of around 27% over the past year.
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