ROME (dpa-AFX) - Canada Pension Plan Investment Board has committed to acquire a 17.5% interest in NetCo from Telecom Italia S.p.A. for up to 2.0 billion euros, as part of a transaction which values the business at an enterprise value of approximately 18.8 billion euros or C$27.5 billion.
Canada Pension Plan Investment Board said it has entered into an agreement to join the Optics BidCo investor group, which is acquiring NetCo - the telecom network in Italy - from Telecom Italia S.p.A.
The investor group, led by Kohlberg Kravis Roberts & Co. L.P. (KKR), includes a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), the Italian infrastructure fund F2i and the Ministry of Economy and Finance of the Italian Government.
The closing of the transaction is expected in the summer of 2024 subject to customary conditions.
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