All about the Eqt fund that will grab the Wind Tre network
Wind Tre will cede control of its network to Eqt Partners, separating the netco from the services. Here are the numbers, shareholders and business of the Swedish fund
Wind Tre, an Italian telecommunications company but part of the Hong Kong group CK Hutchison, will sell the majority of its network to the Swedish fund Eqt Partners.
WHAT THE WIND TRE-EQT AGREEMENT PROVIDES FOR
More specifically, Eqt will control 60 percent of the new company that will arise from the separation between the mobile network ( netco , in jargon) and services ( servco ) of Wind Tre, which will have 40 percent. 2,000 of Wind Tre's 6,500 workers will also join the new company. The separation of the two businesses does not convince the unions, who fear repercussions on employment levels.
The new company will be led by Benoit Hanssen , currently co-CEO of Wind Tre who already deals with network issues.
– Read also: Why Wind Tre will sell the network
TIMES
The preliminary agreement between Wind Tre and EQT should be signed in the coming weeks. The definitive agreement, however, is expected to be closed in the last quarter of 2023.
HERE ARE THE EXECUTIVES, SHAREHOLDERS AND BUSINESSES OF EQT PARTNERS
Eqt Partners is an investment management firm based in Stockholm, Sweden. Born in 1994, at the end of 2022 it managed assets for 210 billion euros: it is the third largest private equity firm in the world by funds raised.
It is led by Conni Jonsson (President) and Christian Sinding (CEO). It has offices in the United States, Asia and Europe: the Italian one is in Milan,opened in 2019 and directed by Federico Quitadamo.
The main shareholder is the Swedish holding Investor AB (it also owns significant shares of AstraZeneca, Electrolux and Ericcson, among other companies), with 14.6 percent. Follow Bank Partners AB (indirectly controlled by Conni Jonsson, chairman of EQT) with 11.5 percent and Jean Eric Salata with 9.7 percent. Salata heads BPEA EQT, an Asian private equity firm that is a subsidiary of Eqt Partners.
The US investment firms BlackRock, Vanguard and Capital Group each have about 1 percent stake.
EQT's most recent investments include a €1.1 billion investment in German fiber optic network provider Inexio in 2019; and the 1.3 billion one in the Spanish real estate portal Idealista, in 2020. In 2018 it had acquired the Italian online comparison platform (auto insurance, energy supplies and various financial services) Facile.it.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/eqt-wind-tre-rete/ on Thu, 30 Mar 2023 11:57:52 +0000.