June 27, 2018 |
Italy's Enel said it has agreed to spend €150m ($175m) for a minority stake in Ufinet, a fiber optic network operator in Latin America.
The private equity firm Cinven will transfer ownership of Ufinet to a vehicle company called NewCo. Enel will own 21% of NewCo and Cinven will own 79%, but the two companies will share equal control of Ufinet, the Italian state-owned power company said in a statement.
Enel has the option to acquire all of Ufinet for another €1.32bn to €2.1bn between the end of
Italian energy company spends $175m for 21% of Ufinet with option to buy the whole company for up to another $2.5bn by 2022