Cleary Gottlieb is representing Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, in the acquisition of a 78.4% stake in Irideos S.p.A. from F2i.
The purchase agreement governing the transaction was signed on July 15, 2022. The transaction is subject to clearance by the Italian antitrust and FDI authorities and is expected to be completed in the fourth quarter of 2022.
The investment represents an add-on to Asterion’s existing portfolio company Retelit, which was acquired by Asterion and delisted from the Milan Stock Exchange in November 2021. Cleary Gottlieb also assisted Asterion in the Retelit acquisition.
Irideos is a leading Italian digital infrastructure operator offering connectivity, data center, and cloud solutions through a network of 27,000 km fiber optic routes along motorways, the Adriatic coast, and metro areas, as well as through 15 data centers.
Through this transaction, Asterion strengthens both the depth and breadth of its European digital infrastructure portfolio. With a particular focus on rural areas, the extensive and diversified portfolio is helping to bridge the rural digital gap in Asterion’s core geographies, while providing a critical foundation for the development of the Gigabit society.