The company implementing the National Broadband Plan says it has completed the sale of an 80 percent stake in its company to Spanish firm Asterion Industrial Partners.
First announced in July, the National Broadband Ireland (NBI) share deal was approved by the government at the end of October.
US investment firms Oak Hill and Twin Point, which owned nearly 80 percent stakes in National Broadband Ireland (NBI), declined to disclose the value of the sale to the Madrid-based investment firm, which recently completed a $1, 8 billion euros and specializes in European infrastructure.
NBI also says it has now “handed over” 91,378 buildings and connected 23,306 homes to fiber broadband.
The company claims that broadband service usage is 30 percent within six months of becoming available in an area and that it will be slightly above its revised target of 102,000 “passed” premises by the end of January 2023.
According to the company, 232,822 buildings are currently under construction, representing over 40 percent of the plan’s area of intervention.
However, the rollout falls well short of its original goals, which were nearly double what it was previously.
The remaining 20 percent of NBI will continue to be held by founding shareholders Granahan McCourt, the investment vehicle of businessman David McCourt’s Granahan McCourt Capital and Tetrad Corporation, and by Yakida, which is made up of part of NBI’s management. Mr. McCourt remains Chairman of the NBI,
NBI fiber connections have minimum speeds of 500 Mbs and are designed for speeds up to 10,000 Mbs.
“It was a very productive quarter for NBI. We are very pleased with the continued momentum in project roll-out month-to-month and to have gained a new long-term investment partner in Asterion,” said Mr. McCourt.
“As a specialist investor in European telecoms infrastructure, Asterion’s investment and support is a significant endorsement of the project, which is now moving forward rapidly.”
https://www.independent.ie/business/technology/nbi-completes-80pc-sale-to-asterion-with-92000-homes-passed-42137896.html NBI completes 80 unit sale to Asterion after handing over 92,000 homes