Press Releases

Today marked the traditional F2i Investor Day, a periodic encounter between F2i management and portfolio companies, on the one hand, and shareholders of the asset management company, together with investors, on the other. During the event, F2i announced the recent final close of F2i’s Third Fund , that reached 3.6 billion euros, 600 million euros higher than the target set in December 2017, at the time of the launch of the Fund. This excellent result, and the short amount of time needed to complete the fund raise, was made possible by existing investors (F2i’s First and Second Funds had raised 1.8 billion and 1.25 billion euros, respectively), as well as a significant contribution from new investors. Subscribers to F2i’s Third Fund include pension funds, sovereign funds, bank foundations, insurance companies and asset managers, with Italian and international investors (from Europe, Asia and North America) contributing in equal measure to the success of the fundraising effort.

With 97.4% of the shares tendered – according to the preliminary data communicated to Borsa Italiana – the public tender offer on EI Towers, launched on August 27th by F2i and Mediaset, ended with full success. F2i and Mediaset, at completion, will hold 60% and 40% of the shares respectively.

Today F2i, acting on behalf of its Third Fund, signed an agreement with Terra Firma, a private equity fund operated under English law, for the purchase of RTR, a Company that owns 134 photovoltaic energy production sites in Italy, with an overall installed capacity of 334 MW. “Thanks to the overall scale of production reached with this acquisition, F2i becomes Europe's third largest producer of electrical power from solar energy. The noteworthy operating and financial efficiencies of scale achieved will also make it one of the continent's most efficient operators”, noted Renato Ravanelli, CEO of F2i.

2i Towers – a special purpose company fully owned by 2i Towers Holding, which is indirectly controlled by F2i, with an important minority stake held by Mediaset – has launched a Voluntary Public Tender Offer on the entire share capital of EI Towers S.p.A. EI Towers, a listed company, is the owner and manages the main Italian network for the transmission of the TV signal (over 2,300 towers), a network for the transmission of mobile telephone services (over 1,100 towers) and has a fiber optic backbone of over 6,000 km serving its infrastructure. The Offer, whose essential terms are detailed in the notice published in accordance with art. 102 of the Italian Consolidated Financial Act, available on the website www.2iTowers.it, provides for a consideration equal to Euro 57.00 for each share, entailing a premium equal to 19.2% compared to the weighted average of the prices recorded during the six months preceding the announcement of the transaction.

F2i SGR, acting on behalf of its Second Fund, has signed an agreement with two companies of the ENEL Group, ENEL Produzione and ENEL Green Power, calling for: the purchase of two plants for the production of electric energy from vegetable biomass, for combined power of 47 MW; the plants are located in the Italian regions of Calabria and Emilia-Romagna; the purchase, upon completion of the period of construction (scheduled for the end of 2018), of two more plants, for a combined electrical power of 48 MW; these plants are located in the Italian regions of Sardinia and Emilia-Romagna, and production activities are scheduled to begin by the end of 2018; the acquisition of a development project in the Italian region of Lombardy for a fifth plant, with electrical power of 12 MW; the operation is to be completed upon conclusion of the authorisation procedure, foreseen for 2019. With this initiative, F2i becomes one of Europe’s foremost operators in the production of electric energy from vegetable biomass, reinforcing its presence in the renewable energy sector, where it already plays a leading role in wind and solar energy.