Tim, F2i raises 1 billion for 10%
F2i Sgr announces that it has successfully achieved the collection target of F2i-Digital Network, Fund VI, aimed at investing in NetCo, Tim’s national fixed network. In a note, the company explains that, also with the involvement of Fund IV (Ania F2i Fund) and Fund V (Sustainable Infrastructure Fund), will invest approximately 1 billion euros to acquire a stake of approximately 10% in Net Cothus joining the Ministry of Economy and Finance, Kohlberg Kravis Roberts & Co. (KKR) and its co-investors, in a systemic operation of great strategic and industrial value for our country.
The collection target was achieved in an extraordinarily short time, demonstrating the interest of investors, in particular banking foundations, pension funds, insurance companies and family offices, in participating in the operation. The agreement with KKR for the entry of the F2i funds into the NetCo shareholding structure guarantees governance and management rights to the largest Italian infrastructure fund. The acquisition is expected to close around mid-2024.
“We are very satisfied to participate through our funds in a project of extreme importance for the country’s infrastructural progress and its digitalisation – comments Renato Ravanelli, CEO of F2i Sgr -. A modern digital network, which will catalyze important investments in the coming years , is fundamental for improving the lives of citizens, the productivity of businesses and the competitiveness of Italy. F2i once again confirms itself as a fundamental partner of the most important national infrastructure projects, being able to count on a total collection of more than 8 billion euros”.
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