Partners Group and Cube Infrastructure, acting on behalf of its Cube Infrastructure Fund, have both agreed to sell their 50 percent stakes in Covage, an open-access fiber infrastructure platform, to a consortium led by Altice.
The complete sale of the company was valued at a cash consideration of €1 billion ($1.1 billion).
The consortium also includes Allianz Capital Partners, AXA Investment Managers – Real Assets, and OMERS Infrastructure.
Covage has a national footprint across low-, medium-, and high-density areas in France, according to a statement by Partners Group. The company operates 45 networks, complemented by a fully-owned national fiber backbone of 9,000 kilometers (5,592 miles). Covage’s awarded perimeter includes 2.4 million homes and 21,000 existing connected businesses.
The sale of Partners Group’s 50 percent stake in Covage marks the final divestment from Partners Group’s ownership of Axia NetMedia Corp. Partners Group sold the C
