Igneo Infrastructure Partners, part of First Sentier Investors Group, and E.ON, one of Europe’s largest operators of energy networks and energy infrastructure, have partnered to roll out high-speed broadband infrastructure across Germany.
As part of the agreement, Igneo will purchase a 50 percent stake in Westenergie Breitband, a wholly owned subsidiary of E.ON. Westenergie remains a 50 percent shareholder and will provide services to the new joint venture.
“Strong partnerships are particularly important for the digitization of our country. That’s why we are delighted to have joined forces with Igneo, a renowned and long-term investor, to accelerate the rollout of broadband in Germany,” said Thomas König, a member of the E.ON board of management responsible for networks.
The transaction, which is subject to customary approvals, is expected to close by the end of the year.