Infracapital, the infrastructure equity investment arm of M&G Prudential, has entered into an agreement with SSE plc to buy a 50% stake in SSE Enterprise Telecoms for a total consideration of up to £380m. The initial £215m figure will be paid upon the completion, and a further £165m will be paid in a series of instalments, subject to future performance.
SSE Enterprise Telecoms has a growing 12,000km UK-wide fibre network. Infracapital invests in, builds and manages a range of essential infrastructure to meet the changing needs of society, such as the demand for high-speed internet. Infracapital is an active investor in the telecoms infrastructure sector, having managed businesses throughout the UK and continental Europe, with a focus on delivering fibre networks.
This completion of the acquisition creates a shared ownership structure designed to accelerate SSE Enterprise Telecoms’ plans for growth in the fibre sector. The partnership supports SSE Enterprise Telecoms’ commitment to innovation and new technologies which are re-defining the market. The business will be in an ideal position to propel its existing projects and partnerships in areas such as 5G, SD-WAN and smart cities.
Latest posts by David Dungay (see all)
- Avaya considering $5 billion buy out - March 27, 2019
- Mitel Appoints Graham Bevington as EVP and Chief Sales Officer - April 10, 2015
- Exertis is the New Name for Micro-P - October 24, 2013