Benetton's Cellnex holdco stake draws interest from GIC among others; Goldman retained
The Benetton family of Italy could sell a stake of up to 30% in a new entity that holds the Cellnex [BME:CLNX] stake it is set to obtain from the Abertis [BME:ABE] deal, according to a newswire report on 13 June.
Reuters, citing sources familiar with the transaction, reported that Singapore's wealth fund GIC is one of the interested suitors that also include other funds focusing on infrastructure. A 20%-30% stake in the new holdco could be sold to a pair of investors, probably comprise an infrastructure fund and a sovereign fund, it noted.
Goldman Sachs was retained for the deal, which has entered an advanced stage and talks with different parties are ongoing, the report said. While the deal will depend on the Abertis acquisition's successful completion, it could come over the summer, according to the item.
In March, the Benetton family reached an agreement to acquire a 29.9% stake in Cellnex, which is part of the purchase of Abertis together with ACS [BME:ACS], the report said. The new holdco with be set up by Sintonia, a sub-holding unit of Benetton's Edizione, as reported.