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Luxembourg, Paris 13/10/2021 – Marguerite has agreed to sell its 37% interest in Rosace (Alsace), 22% interest in Losange (Grand Est region) and 25% interest in Fibre 31 (Haute Garonne) to industrial partner Altitude Infrastructure THD. The portfolio of 3 networks covers c. 1.7m of fibre optic connections to households, public institutions and companies.
The projects received several industry awards, including European Telecom Deal of the Year 2016 from IJ Global for Rosace; European Telecom Deal of the Year 2017 from IJ Global and Project Finance International – Thomson Reuters; Best Financial Structure from Partnerships Bulletin and Best Structured Finance Deal in Europe from EMEA Finance for Losange.
The transaction is expected to be completed by year end and is subject to the fulfilment of certain conditions precedent.
Michael Dedieu, Managing Partner at Marguerite, commented, “Marguerite was a first mover in investing in FTTH concessions in France and was instrumental in structuring and financing these 3 projects. After a 5-year roll-out period, Rosace will reach its full deployment at the end of the year, on time and despite COVID; The other 2 projects are also well underway. This transaction therefore demonstrates our strategy of working alongside industrial partners to build new infrastructure, and actively managing high quality infrastructure assets to deliver attractive returns to our investors.”
“Marguerite has been a great partner. They joined us in early time of fibre PIN in France and provided us with their knowledge and experience in project financing”, said David ElFassy, Chairman of Altitude Infra.