Weather Investments announces sale of part of its shares to Apax Partners, Madison Dearborn Partners and TA Associates
5 June 2008
Rome, Italy - June 5, 2008 - Weather
Investments S.p.A. ("Weather Investments") today announces the sale
of part of its shares for an amount equal to 1.1 billion euro to
funds managed by private equity firms Apax Partners Worldwide LLP,
Madison Dearborn Partners, LLC and TA Associates, Inc.
Naguib Sawiris, Chairman and Chief Executive Officer of Weather
Investments commented "With our new private equity partners in
Weather Investments we are ideally positioned to pursue our value
growth strategies leveraging on the strong operating performance in
each of our subsidiaries and to explore new areas of growth."
Richard Wilson, Head of Tech & Telecoms at Apax Partners,
commented: "We are delighted that our relationship with Naguib
Sawiris and his management team has culminated in this investment.
He has built an outstanding group of telecom operators, which we
know well through our presence on the ground in Italy and Asia, and
our previous ownership of TIM Hellas. This fits squarely into the
investment strategy of our telecoms team and we look forward to
supporting the continued growth of Weather." Mr. Wilson will join
the board of Weather.
"TA Associates is proud to be investing with Naguib Sawiris, an
outstanding global entrepreneur in the telecommunications
industry," said Ajit Nedungadi, a Managing Director of TA
Associates. "We have been following Naguib since 2005 and have been
very impressed with the business that he and his team have built.
Telecommunications is an area of strategic focus for TA, and
Weather Investments provides an exciting opportunity to invest in a
diversified portfolio of high growth emerging market assets
combined with strong challenger businesses in Italy and Greece. We
look forward to working with Naguib and his team, as well as our
co-investors at Apax and Madison Dearborn, to continue to build one
of the most successful global telecommunications companies." Mr.
Nedungadi will join the Board of Weather.
"Madison Dearborn has a long and successful track record
investing in the wireless industry," said Michael P. Cole, a
Managing Director of Madison Dearborn Partners. "We are excited
about the opportunity to invest with a world-class entrepreneur
like Naguib Sawiris, and to continue to grow Weather's diverse
portfolio of wireless and wireline assets within very attractive
markets. We like Weather's strong position in key global markets
and its successful track record in emerging markets where demand
for wireless service continues to grow. We look forward to working
with Weather, Apax Partners and TA Associates to build upon the
company's impressive track record of success." Mr. Cole will join
Weather's board of directors.
About Weather Investments
Weather Investments S.p.A. is a leading international
telecommunications company offering mobile, fixed, Internet and
international communication services to over 90 million subscribers
in Algeria, Bangladesh, Egypt, Greece, Italy, Pakistan, and Tunisia
and has acquired in early 2008 a license to operate mobile services
in North Korea. Weather Investments operates through its
subsidiaries Orascom Telecom Holding S.A.E., Wind Telecomunicazioni
S.p.A. and Wind Hellas S.A.. Weather is the entry point of choice
for both technically advanced attractive markets and high growth,
under penetrated emerging markets.
About Apax Partners
Apax Partners is one of the world's leading private equity
investment groups. It operates across the United States, Europe and
Asia and has more than 30 years of investing experience. Funds
under the advice of Apax Partners total $40 billion around the
world. These Funds provide long-term equity financing to build and
strengthen world-class companies. Apax Partners Funds invest in
companies across its global sectors of Tech & Telecom, Retail
& Consumer, Media, Healthcare and Financial & Business
Services. Significant recent investments by funds advised by the
Apax Partners Tech & Telecom team include: Bezeq, Intelsat,
NXP, SMART Technologies, TDC, TIM Hellas and Versatel. For more
information visit: www.apax.com.
About Madison Dearborn Partners
Madison Dearborn Partners (MDP), based in Chicago, is one
of the most experienced and successful private equity investment
firms in the United States. MDP manages funds with more than US$17
billion in equity commitments. MDP invests in management buyout and
growth equity transactions across a broad spectrum of industries.
MDP is a leading investor in the communications industry. Its
wireless investments have included Nextel Communications, Nextel
Partners, MetroPCS Communications, Inc., Omnipoint Corporation
(acquired by Voicestream), Alaska Native Wireless (joint venture
with AT&T Wireless), and Clearnet Communications (acquired by
Telus). Other investments include XM Satellite Radio, Intelsat and
Univision. More information about MDP can be found at www.mdcp.com.
About TA Associates
Founded in 1968, TA Associates is one of the largest and
most experienced private equity firms in the world. With offices in
Boston, Menlo Park and London, the firm manages $12 billion in
capital and has invested in more than 380 companies. TA Associates
leads buyouts and minority recapitalizations of profitable growth
companies in the telecommunications, technology, financial
services, business services, healthcare and consumer industries.
The firm has extensive expertise investing in communications
companies, including Asurion, Bachtel Cellular Liquidity, Idea
Cellular, MetroPCS Communications and SBA Communications.
More information about TA Associates can be found at www.ta.com.
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Tel: +39 06 8311 3099
For Apax Partners:
+44 (0)20 7872 6401
For Madison Dearborn Partners:
Mark B. Tresnowski
For TA Associates: