Pantheon Infrastrct. - Investment in Irish Digital Infrastructure Company
09/11/2022 07:00
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RNS Number : 7288F Pantheon Infrastructure PLC 09 November 2022
9 November 2022
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PANTHEON INFRASTRUCTURE PLC
Investment in Irish Digital Infrastructure Company
Pantheon Infrastructure PLC ("PINT" or the "Company"), the listed global
infrastructure fund, has committed to invest approximately €52.7m (£46.0m
at current exchange rates) in Asterion Industrial Partners' interest in
National Broadband Ireland ("NBI"), an Irish fibre to the premises ("FTTP")
network developer and operator.
NBI was selected by the Irish Department for Environment, Climate and
Communications to support the country's National Broadband Plan, a programme
that seeks to connect every business, public and residential premises in the
country to high-speed broadband by 2027. NBI is responsible for passing and
connecting approximately 560,000 premises in rural areas stretching across 96%
of the land mass of Ireland, serving around 23% of the population and 69% of
the country's farms, making this the largest infrastructural project in rural
Ireland since rural electrification.
Deployment is split into 227 Development Areas with the rollout occurring in
all counties simultaneously. The Irish government is providing subsidies
alongside the capital committed by shareholders and revenue generated to
support the design, procurement, construction and maintenance of the network
under a 25-year project agreement. The project is expected to help bridge the
digital divide between rural and urban areas in Ireland.
The investment is in line with PINT's strategy of building a diversified
portfolio of infrastructure assets benefitting from structural growth drivers.
Investment in digital infrastructure is essential to ensure everyone benefits
from the deployment of high-speed networks. PINT will invest through Asterion
Industrial Partners, a leading European infrastructure investment manager
specialising in the telecoms, energy & utilities, and mobility sectors,
with Granahan McCourt retaining its current interest in NBI.
Richard Sem, Partner at Pantheon, PINT's investment manager, commented:
"We are delighted to announce this latest transaction in a high-quality fibre
asset alongside our long-standing partner Asterion. NBI's commitment to
providing high-speed broadband to underserved areas in Ireland makes it a
compelling investment proposition which has a positive impact on local
communities."
For further information, contact:
Pantheon Ventures (UK) LLP +44 (0) 20 3356 1800
Investment Manager pint@pantheon.com (mailto:pint@pantheon.com)
Richard Sem, Partner
Harriet Alexander, Vice President
Investec Bank plc +44 (0) 20 7597 4000
Corporate Broker
Tom Skinner (Corporate Broking)
Lucy Lewis, Denis Flanagan (Corporate Finance)
TB Cardew +44 (0) 20 7930 0777
Public relations advisor pint@tbcardew.com (mailto:pint@tbcardew.com)
Ed Orlebar +44 (0)7738 724 630
Tania Wild +44 (0)7425 536 903
Max Gibson +44 (0)7435 791 368
Notes to editors
Pantheon Infrastructure PLC (PINT)
Pantheon Infrastructure PLC is a closed-ended investment company and an
approved UK Investment Trust, listed on the Premium Segment of the London
Stock Exchange's Main Market. Its Ordinary Shares trade under the ticker
'PINT'. The independent Board of Directors of PINT have appointed Pantheon,
one of the leading private markets investment managers globally, as investment
manager. PINT aims to provide exposure to a global, diversified portfolio of
high-quality infrastructure assets through building a portfolio of direct
co-investments in infrastructure assets with strong defensive characteristics,
typically benefitting from contracted cash flows, inflation protection and
conservative leverage profiles.
Further details can be found at www.pantheoninfrastructure.com
LEI 213800CKJXQX64XMRK69
Pantheon
Pantheon is a leading global private equity, infrastructure & real assets,
private debt and real estate investor with 40 years' experience sourcing and
executing private market investment opportunities on behalf of clients.
Pantheon has US$87.8 billion in assets under management and advice (as at 31
March 2022) and employs over 415 staff, including more than 120 investment
professionals, across offices in London, San Francisco, New York, Chicago,
Hong Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.
Further details can be found at www.pantheon.com
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