Brief: KPN, Dutch Pension Fund ABP Sign Agreement To Create New TowerCo

Koninklijke KPN NV

05/06/2024 06:52

June 5 (Reuters) - Koninklijke KPN NV  KPN.AS :
    * KPN AND DUTCH PENSION FUND ABP HAVE SIGNED AN AGREEMENT TO
CREATE A NEW TOWER COMPANY
    * TOWERCO AND KPN HAVE ENTERED INTO A LONG-TERM MASTER
SERVICE
AGREEMENT,  STIPULATING THE TERMS UNDER WHICH KPN WILL CONTINUE
TO BE A TENANT OF TOWERCO FOR AN INITIAL PERIOD  OF 20 YEARS
    * KPN WILL HOLD A 51% CONSOLIDATING  STAKE IN TOWERCO AND
ABP THE
REMAINING 49%, WITH TENNET SELLING ITS STAKE IN NOVEC AS PART OF
 THIS TRANSACTION
    * KPN HAS AGREED AN UPFRONT CASH PAYMENT OF AROUND EUR 120
MILLION
TO NOVEC/OTC CURRENT SHAREHOLDERS

Source text for Eikon:  ID:nGNE4GWmQ 
Further company coverage:  KPN.AS 

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