EQT, OMERS Buy Deutsche Glasfaser From KKR
EQT, via its EQT Infrastructure IV fund, and Ontario Municipal Employees Retirement System have bought German digital infrastructure provider Deutsche Glasfaser from KKR. KKR originally took a majority stake in Deutsche Glasfaser in 2015 via KKR's Infrastructure Fund II.
Vincent Policard, Partner at KKR in European Infrastructure, said: “A big thank you to Uwe Nickl, Jordi Nieuwenhuis and their management team for an incredible journey over the past years. We are delighted to have contributed to this by supporting the growth of a company which has transformed German connectivity, making huge progress in ensuring that all German households and businesses have access to the digital infrastructure necessary to drive economic growth and help societal development. We wish the company continued success in further developing the German gigabit society.”
Under KKR's ownership, Deutsche Glasfaser invested over €1.2bn in fibre infrastructure and deployment in underserved rural and suburban communities in Germany, increasing connections to more than 600,000 households and 5,000 businesses.
Morgan Stanley acted as financial advisor to KKR and Clifford Chance served as legal counsel on the transaction.
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