EQT, Proximus Form Joint Venture to Build Fiber Network in Flanders
November 27 2020 - 3:40AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish private-equity fund EQT AB and Belgian
telecom operator Proximus Group said Friday they have signed a
joint venture agreement to design, build and maintain a
fiber-to-the-home network in Flanders.
The EQT Infrastructure V fund and Proximus said they will build
the network for at least 1.5 million households and businesses in
the Flemish region of Belgium, with the first customers expected to
connect to the network during 2021.
EQT Infrastructure will initially own 50.1% of the joint venture
and Proximus will hold 49.9%.
The closing of the transaction is expected in the first quarter
of 2021, subject to customary regulatory approvals.
With this transaction, EQT Infrastructure V is expected to be
15%-20% invested based on its target fund size.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 27, 2020 03:25 ET (08:25 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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