Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, announced the successful completion of the squeeze-out procedure and acquisition of 100% of Retelit, a leading independent fiber operator of a network covering more than 15,000 kms of fiber in Italy and provider of ICT services.
Asterion launched a Voluntary Tender Offer (VTO) for Retelit on the 30th of May 2021 and on the 25th of September, Asterion completed the acquisition of a 64.7% stake in Retelit 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% 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.
