Ardian and partners weigh €1.8 bn Inwit delisting

Ardian Infrastructure, BlackRock’s Global Infrastructure Partners, Vodafone and KKR are weighing offers involving tower minorities, including a possible €1.8 billion Inwit delisting, BeBeez said in a trade-press report on Oct. 19.

The potential transaction matters because Inwit’s publicly traded 29% stake sits alongside a 32% holding attributed to Ardian and Credit Agricole Assurances, with BeBeez putting total market capitalization at €6.46 billion.

BeBeez said Ardian and Credit Agricole Assurances hold 32% of Inwit and that Ardian is speaking with banks and Abu Dhabi’s Mubadala, which may buy a minority interest in the asset. The report also linked BlackRock’s GIP, Vodafone and KKR to offers for minorities in Vantage Towers and GD Towers, without reporting that any transaction had been agreed.

The same report said Avenue Capital Group is ahead in the auction for 10% of Lega Calcio Serie A’s media company after submitting a €320 million bid, implying an enterprise value, or equity plus net debt measure, of €3.2 billion. BeBeez said Carlyle and Nextalia offered €650 million for more than 16.5%, implying an enterprise value of €3.8 billion, but with requested protections tied to future cash flows.

JP Morgan is advising Lega Calcio Serie A, BeBeez said. The report said offers were also received from Apollo, CVC, Ares, Sixth Street, Bain Capital, Oaktree, Blackstone, General Atlantic, Partners Group, Bright Path, Clessidra and FSI.

BeBeez also said Medisolve, a HIG Capital portfolio company, refinanced debt with Barings and Deutsche Bank and secured more than €70 million of additional facilities for acquisitions and international expansion. The company recently bought Austria’s Mides Healthcare Technology and Italy’s Origlia, according to the report.

Medisolve’s board approved financing of as much as €245 million in August 2026, including senior secured bonds of as much as €220 million and a super-senior revolving facility, a senior credit line, of as much as €25 million, BeBeez said. Citing the Bank of Italy database, the report put a first unitranche bond, a single blended debt facility, at €175 million to €180 million with maturity on Sept. 15, 2033.

Source: trade-press report, BeBeez, Oct. 19