The majority of Irish national broadband program owners sell their profits to Spanish investors.

Ondon-based Oak Hill Advisor and U.S. investor Twinpoint Capital own nearly 80% of the Irish National Broadband (NBI) stake and will sell it to a Madrid-based Asterion Industrial Partner. I agreed. A Spanish investment company that recently completed a € 1.8 billion funding round specializes in European infrastructure, investing in technology and telecom in the United Kingdom (MS3), Spain (Olivenet) and Italy (Irideos). ..

NBI refused to disclose the value of the transaction.

However, a spokesperson said neither Granahan McCourt nor its CEO and chairman, David McCourt, have sold their shares as part of the sale. The management team, led by CEO Peter Hendrick and rollout director TJ Malone, remains unchanged. This agreement does not immediately affect the deployment of fiber broadband schemes.

NBI’s plans to find new long-term investors were first revealed by Irish Independent in 2021.

Although the agreement has been agreed, it now requires government approval and is expected to be completed this fall. Under the terms of the national broadband plan agreement, investors entering the country are bound by the same rules and obligations as investors leaving the country.

NBI is building IT and database systems for national broadband programs in the hope that they will be replicated or licensed in other European countries that may pursue similar fiber deployments in the future.

The sale of shares will take place after the National Broadband Program recently reports that 22 homes “passed” by the National Broadband Program have connected to the network.

Of the 559,000 facilities covered by the seven-year deployment, 63,652 have passed so far, with a target of 102,000 as of the end of January 2023. This is significantly behind the initial deployment deadline. However, NBI CEO Peter Hendrick recently told the Oireachtas Commission that the € 2.7 billion state-backed broadband deployment is now “real momentum” and “stability” and “predictability” in the deployment schedule. He said he was experiencing. Additional local construction contractors.

“We welcome Asterion, a partner with decades of experience in communications infrastructure, who not only helps carry out this highly ambitious project, but also brings a long-term commitment to Ireland. “Masu,” said Granahan McCourt CEO and Chairman.

“We are pleased to partner with Asterion with further investment to develop a preeminent center in Ireland as well as NBI and realize our long-term vision of making Ireland globally recognized for its services. Of communication. “

Winnie Wutte, Asterion’s founding partner, said: For the long-term future.

Musa Sonmez, a partner of Oak Hill Advisors, said it has invested “hundreds of millions of dollars” in its deployment in Ireland.

“It was a privilege to help establish a business that has been part of NBI’s history since its inception and is the world’s premier open access wholesaler,” said Musa Sönmez. From strength to strength. We are proud of our partnership with Granahan McCourt and have invested in Ireland since 2014. Over the last few years, we have invested hundreds of millions of euros to build a global business with a lasting legacy. I look forward to continuing this. Travel with Granahan McCourt for future collaborations. “

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