Ardian said to near €1.5bn INWIT stake buy from Telecom Italia alongside Canson Capital

587

Global private equity player Ardian is reportedly nearing a deal for a minority stake in Telecom Italia’s mobile tower group INWIT in a roughly €1.5bn deal.

Canson Capital Partners is also set to invest in the business through the deal, Reuters said, citing three sources it said had knowledge of the matter.

It said Telecom Italia was set to sell just under half of its 33.2% stake for about €1.5bn.

Ardian had been pegged as the frontrunner for a 25% stake in INWIT back in February.

Earlier this week Ardian has bought a stake in ProduceShop, a Swiss e-commerce platform specialising in the production and sale of indoor and outdoor furniture in Europe.

The company, which was launched five years ago, says its innovative sales model allows it to combine prestigious brands with its own brands through analytical tools that anticipate the demands of European customers.

Last week Ardian hauled in a record-breaking $19bn to close the largest secondaries private equity fund ever raised.

Copyright © 2020 AltAssets

Get the latest PE News & Research delivered to your inbox every morning