Today, AXA Private Equity said that it purchased Unicredit's 40% stake in Holding di Investimenti in Sanità e Infrastrutture. Through a signed agreement of the infrastructure funds, AXA was able to acquire the said portion of HISI. The parties did not disclose the financial terms.
AXA was the foremost diversified private equity firm in Europe. It already owned 40% of HISI's share capital. After the purchase, AXA would own 80% of the corporation's capital.
HISI was a holding firm that owned 65% of Italy's Genesi Uno. Genesi Uno won 28-year concession to produce and regulate a 550-bed hospital in Legnano, Lombardy. The company provided non-medical services to the hospital. It was able to showcase its ability to operate at the highest level through services for patients and employees.
AXA would utilize its controlling power to upsurge its assistance for HISI's growth strategy It would work with Techint Group which held the outstanding 20% stake.
"We have been a shareholder of HISI since 2007, and during this time the company has consistently delivered a strong operating performance. Our increased shareholding will allow us to provide the company with the necessary resources to continue to grow organically and also to implement a buy-and-build strategy," Stefano Mion, Managing Director of AXA Private Equity, stated.
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