Abrdn’s global infrastructure projects business has invested in a French fibre network concessions holder NGE Fibre.
Abrdn said its Concession Infrastructure business has acquired an interest in NGE Fibre, a company that holds interests in two fibre-to-the-home (FttH) concessions serving 1.4m homes in rural areas in Region Grand in France.
The project has been invested from ASEIP IV, Abrdn Concession Infrastructure’s fourth pan-European infrastructure fund. The fund targets social and economic infrastructures across the social, transportation, telecommunications and environmental sectors.
The latest investment marks Concession Infrastructure team’s first major FttH transaction in France, following deals in Spain, the manager said.
Last month, infrastructure investor TINC said it made its first investment in a French portfolio company with the acquisition of a minority stake in NGE Fibre for €24m.
Abrdn said it led the investment partnership in NGE Fibre alongside NGE Concessions and TINC.
Eloi Daniault, senior investment director, concession infrastructure, Abrdn, said: “We’re thrilled to announce this investment in NGE Fibre, and a long-term partnership with NGE Concessions and TINC in France. Following three significant investments made in the fibre sector in Spain since 2019 spanning 4m homes passed, investing in NGE Fibre brings abrdn Concession Infrastructure to around 5.4m homes passed.
“This marks another major milestone in Abrdn’s commitment to enabling local communities to get crucial access to reliable superfast broadband.”
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