Macquarie to make binding offer for Open Fiber this week

16 Sep 2020

Investment firm Macquarie is expected to make a binding offer for all or part of utility company Enel’s 50% stake in Italian wholesale network owner Open Fiber. Reuters writes that Macquarie Infrastructure and Real Assets’ (MIRA) is looking to acquire between 35% and 50% of Open Fiber from Enel, with a bid to be submitted tomorrow (17 September). Macquarie’s bid values Open Fiber at around EUR7.7 billion (USD9.1 billion). State lender Cassa Depositi e Prestiti (CDP), which owns the other 50% of Open Fiber, has a right of first refusal on any sale by Enel.

Italy, Macquarie Asset Management (incl. MIRA), Macquarie Group, Open Fiber