A consortium made byItaly’s infrastructure fund F2i (80%) and EU promoted Marguerite fund (20%) entered in exclusive talks to buy Infracom, the infrastructure company owning the Brescia-Verona-Vicenza-Padova highway, MF Milano Finanza wrote.
The sellers are A4 Holding, a company which has been bought by Spanish Abertis group some months (owning a 97% stake) and some minority shareholders (owning a 3%).
Marguerite fundo is cosponsored by the European Investment Bank, Italy’s Cassa Depositi e prestiti and some other national development companies in Europe and its focus on infrastrucutral initiatives in Europe.
Participants in the auction were also said to be Searchlight together with Retelit (who finally didn’t put forward a binding offer) and US group Equinix, who was specifically interested in the three Infracom’s datacenters (in Verona, Milano Assago and Milano Caldera, which managed about 75% of Italian internet traffic) and said it would have sold Infracom’s other assets.
Infracom is valued about 130 million euros, including an 80 million euros net financial debt. The deal is conditioned to a gohaed by the Italian Council of ministers as the tlc infrastructures sector is subject to the socalled governamental golden power. If all goes well the deal is expected to close by the end of July.
Infracom Italia hasn been active since 1999 on the national ict services sector offering companies services and technological platforms to address their communications needs. Infracom’s headquarter is in Verona and the company owns more than 9k km of optical fiber.
The company reached about 104 million euros in turnover in 2016 with a 1.1 million euros net loss, after having reached 101 million euros in turnover in 2015 or 98 million in revenues, a 25.4 million euros ebitda and a 0.4 million euros net loss, with a 76.7 million euros net financial debt (see here an analysis by Leanus, after free registration and login).