Pan-European investment management firm Primevest Capital Partners has sold its Dutch fibre-to-the-home (FTTH) portfolio to KPN, a leading telecommunications company in the Netherlands.
Financial details were not disclosed.
Primevest CP started investing in the rollout of fibre-optic networks in the Netherlands in a consortium with T-Mobile and Volker Wessels Telecom in 2019.
The consortium aimed to accelerate the deployment of fibre optics in inner-urban areas of large Dutch cities, where the level of fibre-optic connectivity significantly lagged behind rural regions.
Bas van Dongen, communications infrastructure partner at Primevest Capital Partners, said: 'We are proud to have played a pivotal role in accelerating the roll-out of fibre-optic networks in the Netherlands and that we have been able to benefit from the momentum in the market to provide our investors with an attractive return on their investments.
'Our collaboration with T-Mobile and Volker Wessels Telecom has been instrumental in achieving our objectives and we look back on this partnership with great satisfaction.'
Over the past four years, Primevest CP has made substantial investments in The Hague, Eindhoven, and Rotterdam, successfully establishing a robust portfolio of over 125,000 homes passed.
Recent times have witnessed a profound consolidation within the sector, leading Primevest CP to conclude that it is opportune to divest the FTTH portfolio in order to maximise value for its investors.
Several market players showed an interest in acquiring the network. Aside from the financial terms, KPN also portrayed a sensible approach in preserving and strengthening the relationship with T-Mobile as the existing user of the network.
While divesting its FTTH portfolio in the Netherlands, Primevest CP said it remained committed to investing in other key areas through its joint venture open German fiber.
Furthermore, Primevest CP is currently establishing its second communication infrastructure fund (PCIF II).
The company will maintain its focus on investments in Dutch business parks, supporting the digital infrastructure requirements of commercial enterprises, and expanding its investment portfolio in Germany.
