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