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Benetton holding sells another 20% of its Cellnex stake to GIC

Wednesday 10 October 2018 | 08:39 CET | News
Italy's Benetton family has announced the sale of another 20 percent of an investment vehicle through which it holds 29.9 percent of Spanish tower operator Cellnex to a unit of Singapore's sovereign fund GIC. Last week Edizione sold an identical 20 percent stake in its investment vehicle – called ConnecT – to a unit of Abu Dhabi fund ADIA. Both funds made the acquisitions on the same economic terms Edizione bought the Cellnex stake from Spanish toll-road operator Abertis. That transaction was closed in July, when Abertis sold 29.9 percent of Cellnex to Edizione for a total of 1.489 billion.

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Categories: Mobile & Wireless
Companies: Cellnex
Countries: Italy / Spain
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