Asterion will own 80% of National Broadband Ireland.
A new investor called Asterion has acquired a majority stake in National Broadband Ireland, the business tasked with delivering fibre broadband to 559,000 premises in rural Ireland.
Agreement has been reached for Asterion to acquire the interests held by Oak Hill Advisors, Twin Point Capital and certain minorities for an undisclosed sum.
“We’re incredibly proud to be bringing world-leading broadband infrastructure to over 1.1 million citizens across rural Ireland, and in doing so, help Ireland be years ahead of the EU’s target of a gigabit society by 2030”
This will see Asterion and Granahan McCourt take on all responsibilities and guarantees in accordance with the Project Agreement with the Irish Government.
Following the transaction Asterion will own 80% of National Broadband while Granahan McCort along with existing management and Tedrad will retain the remaining 20%.
“At NBI, we’re incredibly proud to be bringing world-leading broadband infrastructure to over 1.1 million citizens across rural Ireland, and in doing so, help Ireland be years ahead of the EU’s target of a gigabit society by 2030,” said David McCourt, chair and CEO of Granahan McCourt and chair of NBI.
“In Asterion, we welcome a hugely respected partner with decades of experience in telecoms infrastructure that will not only help us deliver on this extremely ambitious project, but also bring long term commitment to Ireland, which has always been our stated aim. At Granahan McCourt, we are delighted to be partnering with Asterion, not only in NBI, but with additional investment committed to develop a centre of excellence in Ireland and deliver on our long-term vision to make Ireland globally renowned for telecoms services.”
Asterion specialises in European infrastructure across telecoms, energy, utilities and mobility sectors and has a portfolio of fibre assets across Europe.
“We are delighted to partner with Granahan McCourt and continue to invest in the development of rural fibre infrastructure with NBI, in one of the most ambitious fibre rollouts in the world, providing access to rural, long term and futureproofed connectivity in Ireland,” said Winnie Wutte, founding partner of Asterion.
“We are also excited and committed to the opportunity of creating a centre of excellence in Ireland in partnership with Granahan McCourt to open up tremendous long-term opportunities in the Irish market and further cement its leadership position in the provision of a gigabit society.”