Ardian acquires Techint’s stake in HISI to become sole shareholder
Ardian, the independent private investment company, today announces the acquisition from Techint of the remaining stake (20%) in HISI. This makes Ardian the sole shareholder in this
The transaction has been completed by Ardian via its Infrastructure funds which first invested in Italy in 2007. Ardian has interests in various sectors in the country, including airports (with a 49% stake in 2i Aeroporti), gas distribution networks (27.9% stake in 2i Rete Gas), as well as hospital concessions and renewable energy.
By acquiring the remaining shares in HISI (Holding di Investimenti in Sanità e Infrastrutture), Ardian also becomes the main shareholder (with a 75% stake) in Genesi Uno Spa. Genesi Uno was founded in 2005 with a 28-year contract to finance, design, build and manage non-core services for Legano hospital, which opened in 2010.
As part of the transaction, HISI becomes a fully independent holding company led by Luca Pecchio, and the rest of the management team all with extensive experience in the PFI and PPP space. HISI was set up as a joint venture in 2007 by Ardian (40%), Unicredit (40%) and Techint (20%), in order to acquire a 65% stake in Genesi Uno. In 2013, Ardian increased its stake in HISI by acquiring the 40% held by Unicredit.
Stefano Mion, Managing Director at Ardian Infrastructure, added: “This transaction perfectly illustrates the strategy Ardian has consistently pursued in Italy since 2007. We have built solid, long-term relationships with important industrial groups to invest together, as well as investing in strategic sectors that require strong commitment, foresight and focused expertise. Ardian’s status as sole shareholder is a confirmation of our desire to continue investing in a country with great further potential in many different sectors.”
HISI (Holding of Investments in Health and Infrastructure), born 22 October 2007 in Milan and is the first experiment in Italian equity investment company owned by Financial Institutions. HISI aims to support long-term investors operating in project financing in the construction and management of infrastructure concessions. In February 2008 HISI obtained by the Bank of Italy authorization to carry on business as a Holding Financial Holdings (art. 113 of Legislative Decree 1 September 1993, n. 385 -TUbancario).
Source: Ardian Press Release