Private Equity and Infrastructure: Antin's TowerCo Deal*
Référence :
HEC-F7L(GB)
Résumé
*AFFI 2021 Prize for the best case study in Finance
In 2012, Antin I.P., a young private equity firm targeting brownfield infrastructure assets in Europe, is working on the possible acquisition of over 2,000 cell towers from Bouygues Telecom, a French telecommunications giant. Why is Antin interested in telecom towers? What value creation initiatives can they potentially implement? What are potential risks and how can they be mitigated? Can the investment satisfy Antin's performance criteria? The case epilogue reviews the transaction which occurred in early 2013, the value creation initiatives implemented during Antin's ownership of the business (2013-2016) and its eventual sale in 2017
In 2012, Antin I.P., a young private equity firm targeting brownfield infrastructure assets in Europe, is working on the possible acquisition of over 2,000 cell towers from Bouygues Telecom, a French telecommunications giant. Why is Antin interested in telecom towers? What value creation initiatives can they potentially implement? What are potential risks and how can they be mitigated? Can the investment satisfy Antin's performance criteria? The case epilogue reviews the transaction which occurred in early 2013, the value creation initiatives implemented during Antin's ownership of the business (2013-2016) and its eventual sale in 2017
Objectifs pédagogiques
- Understanding infrastructure assets, investors in infrastructure assets, and infrastructure funds.
- Understanding the organization of private equity firms and the structure of private equity transactions.
- Understanding what makes an asset an attractive investment target for private equity.
- Understanding the opportunities for value creation in private equity and infrastructure.
- Understanding valuation in a private equity and infrastructure context: deal structure, projections, debt and dividend schedules, performance metrics (internal rate of return, cash multiple, and dividend yield).
- Understanding the organization of private equity firms and the structure of private equity transactions.
- Understanding what makes an asset an attractive investment target for private equity.
- Understanding the opportunities for value creation in private equity and infrastructure.
- Understanding valuation in a private equity and infrastructure context: deal structure, projections, debt and dividend schedules, performance metrics (internal rate of return, cash multiple, and dividend yield).
Mots-clés
Finance - Telecommunications - Infrastructure - Private equity - Value creation - Dividend
Public
Master - Specialized master in finance
MBA - Executives
MBA - Executives
Secteur d'activité
Finance - Telecommunications
Caractéristiques particulières
EXCEL: File with model (for students)
EXCEL: File with model constructed (for instructors)
PPT: Debriefing (50 slides)
WORD: Assigment
EXCEL: File with model constructed (for instructors)
PPT: Debriefing (50 slides)
WORD: Assigment
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Année de la problématique :
2012
Livraison :
Livraison par lien de téléchargement
Nombre de pages :
11
Temps d'utilisation :
3h00 (of 1 h 30 to 3 h)
Code du secteur d'activité :
67 - Auxiliaires financiers
Note pédagogique :
Oui (52 pages)
- incluse
Montant :
Adhérents : 470,00 € HT / Non adhérent : 940,00 € HT
Licence :
Campus*
* Usage illimité pour un campus sans limite de nombre d'étudiants.
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HEC-F7L
Cas multimédia
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Private Equity et Infrastructure: Antin crée une « TowerCo »* |
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