Saturday, July 20, 2024

***Tim: Preparing to close and raise capital on Fibercop and the new platform

Date:

Preparatory activities for the transfer of branches and the transfer of the network (Il Sole 24 Ore Radiocor) – Rome, June 25 – The Tim Group is preparing to close the Netco operation on July 1, the fixed network sold to the American fund KKR.

In particular, the extraordinary meeting of Fibercop, which was Tim’s secondary network company with KKR already contributing approximately 37%, approved a capital increase of 4 million, with the issuance of private shares of Series A, “which will be issued through the transition of the core network.” By Tim to Fibercop”. These are all preparatory activities for the transfer of the company’s branches to Fibercop and thus closing the transfer process to Kkr. Furthermore, Fibercop’s platform has been modified, once again to allow for the disposal process.

In addition to the core network, Telenergia is completely moved to Fibercop. The core network branch includes, in particular, fiber and copper network and management activities; Real estate owned or rented to carry out the activity. Full Teleenergia; Debts and obligations inherent in the primary subsidiary; employee contracts, as well as responsibilities, obligations and obligations; Equipment as well as startup. The so-called Fibercop Post Assignment was then transferred to Optics Bidco, KKR’s vehicle for acquiring the entire Tim network.

To do this, Fibercop’s articles of association were also amended, in order to allow Tim to freely transfer Fibercop shares after contributing to Optics Bidco, eliminating previous clauses that placed significant restrictions and conditions on the transfer of Fibercop shares.

Optics Bidco will be indirectly owned, as confirmed by the minutes of the extraordinary meeting of Fibercop consulted by Radiocor, as well as other co-investors: Mef, F2i, Azure Vista (the vehicle controlled by the Abu Dhabi Investment Authority) and a wholly Canadian holding company. It is controlled by the Canada Pension Plan Investment Board.

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Sim

(Radiocore) 06-25-24 20:04:49 (0729) 3 NNNN

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