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Abu Dhabi Investment Authority buys stake in Spanish group

Abu Dhabi Investment Authority buys stake in Spanish group
ADIA and GIC bought 2.5% stake each

Mubasher: The Abu Dhabi Investment Authority (ADIA) and the Government of Singapore Investment Corporation (GIC) have bought a minority stake in Spanish tower group Cellnex from Italy's Benetton family, according to Reuters.

The Italian family sold 5% of ConnecT vehicle, which owns a 29.9% stake in Cellnex. ADIA and GIC bought 2.5% stake each.

Benetton’s holding company Edizione remains ConnecT’s largest shareholder with a 55% stake, while ADIA and GIC hold 22.5% each.