Partners Group and Cube Infrastructure have each sold their 50 percent equity stake in Covage, an open-access fiber infrastructure platform in France, to SFR FTTH Network, a company owned by Altice, OMERS, Allianz Capital Partners and AXA Investment Managers – Real Assets.
The deal valued Covage at €1.1 billion ($1.3 billion).
Covage is an open-access fiber infrastructure platform with a national footprint across low-, medium- and high-density population areas in France. The company operates 45 local networks and is complemented by a fully-owned national fiber backbone of 9,000 kilometers (5,592 miles). Its connections are built and operated as concessions under the support of France’s rural broadband access program.
Cube Infrastructure initially invested in Covage through its first fund in 2011 and was joined by Partners Group in 2016. Since then, Cube has invested in the development of open-access network operators in Portugal, the United Kingdom, Croati
