DIF Capital Partners (through its DIF Infrastructure VII fund), a leading infrastructure fund manager, has entered into exclusive negotiations with TDF and La Banque des Territoires to acquire the fiber business of the TDF group, a digital infrastructure and network operator.
TDF Fibre is a French fiber company jointly owned by TDF (79.5%) and Banque des Territoires (20.5%). The company operates four public-initiative networks under concession contracts, all of which are fully operational: Val d'Oise Fibre, Val de Loire Fibre, Anjou Fibre and Faucigny Glières Fibre, and one wholly-owned network: Yvelines Fibre. The company's recognized expertise in the operation of very high-speed networks, and in particular its quality of service, rank it among the best in France according to recent ARCEP studies.
DIF Capital Partners is continuing negotiations with a view to investing in the TDF Group's fiber business via the acquisition of the entire share capital of (i) TDF Fibre and (ii) Lumière Fibre, a newly-formed vehicle wholly-owned by TDF, to which TDF is expected to contribute its operating units relating to fiber engineering, maintenance, deployment and construction services. Following completion of the proposed transaction, the TDF group will continue to support TDF Fibre, notably in the area of network supervision.
The investment envisaged by DIF Capital Partners will enable the company to continue to put its expertise at the service of local authorities, individuals and businesses, and to pursue development opportunities in existing and new territories.
This transaction, currently under negotiation, will be subject to information and consultation procedures with the relevant employee representative bodies, and could be finalized by the end of 2024, subject to the fulfillment of customary conditions precedent.
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About TDF
As a neutral and open infrastructure operator, TDF supports digital players in their strategic connectivity challenges in mainland France and the French overseas territories. Whether for radio and DTT broadcasting, mobile broadband coverage or fiber deployment, TDF provides its customers with business expertise, a unique and innovative technological mix and first-rate territorial proximity. In an increasingly connected world, TDF has been helping telecoms and the media for more than four decades, thanks to its fleet of 8,600 commercialized sites, to connect territories and the French people everywhere, faster.
www.tdf.fr
About DIF Capital Partners
DIF Capital Partners is an independent infrastructure fund with over €17 billion in assets under management. Founded in 2005, DIF Capital Partners occupies a leading position in the management of medium-sized investments, mainly in Europe and North America.
DIF follows two strategies: the traditional DIF Fund invests in low-risk, medium-sized infrastructure projects and companies in the energy transition (including renewables) and utilities sectors, as well as in public-private partnerships (PPPs) and concessions. The DIF CIF fund invests in small and medium-sized companies that will thrive in the new economy. These companies are generally active in the digital infrastructure, energy transition and sustainable transport sectors.
With a team of over 240 professionals in 12 offices, DIF offers a unique approach to the market, combining a global presence with the advantages of strong local networks and investment capabilities. DIF is present in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Paris, Santiago, Sydney and Toronto.
About Banque des Territoires
Banque des Territoires is one of Caisse des Dépôts' business lines. It brings together the Group's in-house expertise for the benefit of local and regional authorities. As a single point of contact for its customers, Banque des Territoires works alongside all local players: local authorities, local public enterprises, social housing organizations, the legal professions, businesses and financial players. It supports them in carrying out their public-interest projects by offering a continuum of solutions: advice, loans, equity investments, consignments and banking services. By reaching out to all regions, from rural areas to metropolises, Banque des Territoires aims to maximize its impact, particularly in terms of ecological transformation and social and territorial cohesion. Banque des Territoires' 37 local offices ensure that its action is deployed across the whole of mainland France and the French overseas territories.
Working together to develop greener, more cohesive territories