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Allen & Overy advises InfraRed Capital Partners on the acquisition of a 55% shareholding in ADTIM

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Ancel Alexandre
Alexandre Ancel

Partner

Paris

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Lazerges Romaric
Romaric Lazerges

Partner

Paris

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Ninane Florence
Florence Ninane

Partner

Paris

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Bererhi Driss
Driss Bererhi

Partner

Paris

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Image of Tzvetomira Pacheva
Tzvetomira Pacheva

Counsel

Paris

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Julie Parent

Senior Associate

Paris

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Clémence d'Almeida

Associate

Paris

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Marie Coussi

Associate

Paris

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Image of Noemie Bomble
Noemie Bomble

Associate

Paris

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Amelie Gillot

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Paris

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24 May 2022

Allen & Overy has advised InfraRed Capital Partners in connection with the acquisition of a 55% shareholding in wholesale fibre network ADTIM via its listed fund HICL Infrastructure PLC from DIF Capital Partners from its DIF CIF I fund.

ADTIM has been awarded two concession contracts by the local authority “Ardèche Drôme Numérique” (ADN), under the French Public Initiative Networks ("PIN") scheme, to operate two infrastructure networks providing broadband access to telecom operators serving the residential and business retail markets in the Drôme and Ardèche area. ADTIM's network is run by Axione, a subsidiary of Bouygues Energies & Services.

ADTIM marks HICL’s first fibre broadband investment and is InfraRed’s third investment in the sector in Europe since 2020.

Completion of the transaction is expected in Q3 2022.

The Allen & Overy team in Paris was composed of Alexandre Ancel (Partner) and Julie Parent (Senior Associate) on corporate aspects, Romaric Lazerges (Partner) and Marie Coussi (Associate) on public law aspects, Florence Ninane (Partner), Clémence d’Almeida (Senior Associate) and Noémie Bomble (Associate) on competition law, as well as Driss Bererhi (Partner) and Tzvétomira Pacheva (Counsel) on financing aspects.