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Eversheds Sutherland advises on the acquisition of German fiber-optic network provider Deutsche Glasfaser by EQT and OMERS

  • Germany

    11-02-2020

    EQT Infrastructure and OMERS, one of Canada’s largest defined benefit pension plans, acquired Deutsche Glasfaser, the fastest growing provider of gigabit internet connections through fiber-to-the-home (“FTTH”) in Germany, from KKR Infrastructure, Reggeborgh and the company’s management. Eversheds Sutherland is advising the management of Deutsche Glasfaser in connection with the transaction.

    Deutsche Glasfaser will be combined with EQT Infrastructure IV portfolio company inexio to form a leading FTTH player in rural Germany as well as one of the leading telco companies in Germany. EQT Infrastructure will own 51% in the combined group and OMERS will own 49%. The closing of the transaction is expected in Q2 2020, subject to customary regulatory approval.

    Deutsche Glasfaser invested heavily in fiber infrastructure in underserved rural and suburban communities in Germany and today provides high-speed internet access to more than 600,000 households and 5,000 businesses. Deutsche Glasfaser’s scalable network consists of more than 30,000 kilometers of fiber optic infrastructure.

    Looking ahead, the management team of Deutsche Glasfaser plans to continue the rapid growth of the company by pursuing a large-scale deployment of FTTH internet access in rural Germany. FTTH is the fastest, most reliable and future-proof internet connectivity solution available and the only technology that will be able to handle the strongly growing internet bandwidth demands of the future.

    Uwe Nickl, Chief Executive of Deutsche Glasfaser, said: “We are excited to welcome EQT and OMERS as our new owners and we are fully aligned to further develop Germany’s digital infrastructure. With the industry experience and financial support from EQT and OMERS, Deutsche Glasfaser is well-positioned to take the next step on our growth journey and accelerate the fiber roll-out across Germany. On top, we as a management team are excited to join forces with inexio, which will help us to combine our highly complementary skill-sets and to further accelerate our growth.”

    Eversheds Sutherland is advising the management of Deutsche Glasfaser comprehensively in connection with the transaction, with a team led by Partners Michael Prüßner and Christophe Samson (both Munich) as well as Sebastian Zeeck (Hamburg, all Corporate/M&A) and Simon Weppner (Tax, Dusseldorf). Associates included Jörg Hoffmann, Benjamin Schikora (both Munich) and Stephan von Harder (Hamburg, all Corporate/M&A). The matter is a result of the lasting relationship and collaboration of Christophe Samson and Deutsche Glasfaser’s management.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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