Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, has completed the squeeze-out procedure and acquisition of 100 per cent of Retelit, an independent operator of a network covering more than 15,000 km of fibre in Italy and provider of ICT services.
Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, has completed the squeeze-out procedure and acquisition of 100 per cent of Retelit, an independent operator of a network covering more than 15,000 km of fibre in Italy and provider of ICT services.
Asterion launched a Voluntary Tender Offer (VTO) for Retelit on the 30 May 2021 and on the 25 September, Asterion completed the acquisition of a 64.7 per cent stake 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 per cent 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 30 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, says: “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.”
