Impulse II S.C.A.’s €181 Million Loan To Acquire A Minority Stake In Inwit


Legance advised Impulse II S.C.A. on the deal, while Ashurst assisted the syndicate of Banks in the transaction.

Ashurst has advised Banco Santander S.A., Mediobanca S.p.A, Nomura International plc and UBI Banca S.p.A on a €181 million loan to Impulse II S.C.A. – an indirect Luxembourg subsidiary of Ardian – in order to finance a portion of the purchase price of a vehicle, majority-owned by TIM S.p.A., which in turn owns 30.2% of the shares of Inwit S.p.A., the first telecom tower operator in Italy, resulting from the merger between the Telecom Italia and Vodafone towers.

Ashurst’s international and multidisciplinary team was led by Milan office managing partner Carloandrea Meacci, with a team comprising of partner Umberto Antonelli, senior associate Gian Luca Coggiola and associate Paolo Gallarà. Partner Michele Milanese provided tax advice. Luxembourg-based partners Fabien Debroise and Isabelle Lentz advised on Luxembourg law matters.

Legance advised Impulse II S.C.A. on the deal with a team led by partner Tommaso Bernasconi, assisted by senior counsel Marco Sagliocca, managing associate Marco Gagliardi, senior associate Andrea Mazzola and associate Vittorio Pagano. Senior counsel Francesco Di Bari advised on tax law.

Involved fees earner: Umberto Antonelli – Ashurst; Gian Luca Coggiola – Ashurst; Fabien Debroise – Ashurst; Paolo Gallarà – Ashurst; Isabelle Lentz – Ashurst; Carloandrea Meacci – Ashurst; Michele Milanese – Ashurst; Tommaso Bernasconi – Legance; Francesco Di Bari – Legance; Marco Gagliardi – Legance; Andrea Mazzola – Legance; Vittorio Pagano – Legance; Marco Sagliocca – Legance;

Law Firms: Ashurst; Legance;

Clients: Banco Santander Sa; Impulse II S.C.A.; Mediobanca; Nomura International plc; Ubi Banca Gruppo;