Infracapital, the infrastructure investment arm of M&G, has agreed to acquire German fiber network operator Breitbandversorgung Deutschland (BBV) from alternative investment firm RiverRock.
The deal was made on behalf of the Infracapital Partners III fund, a strategy that invests sustainably in essential brownfield infrastructure. Financial terms were not disclosed.
Germany is currently one of Europe’s most underserved fiber markets, with average fiber-to-the-home penetration of 10 percent, compared with 36 percent in the rest of Europe, according to Infracapital. Based in Frankfurt, BBV focuses on deploying fiber-to-the building networks in underserved areas within its target regions.
“Demand for high-speed internet has never been more important and we are so pleased to be supported by Infracapital in building out our infrastructure to meet this demand,” said Manfred Maschek, CEO at BBV. The two companies will work together to further expand the busin