Large-scale asset management firm UBS Asset Management (UBS-AM) has acquired a 100 per cent equity stake in North German infrastructure operator, Lünecom.
The Lünecom integrated fibre infrastructure platform offers fibre to the home internet, as well as IP telephony and IPTV across North Germany. It has a high market share in its existing coverage area. The UBS-AM’s investment is designed to support future deployment, allowing the acceleration of plans to reach more homes across the region. The funding will help to deliver on an actionable pipeline of up to 100,000 homes, with the potential to expand to a further 50,000 homes in target areas.
Norbert Hill, founder and CEO of Lünecom, commented: ‘Combining UBS-AM and Lünecom’s respective strengths will facilitate the delivery of high-quality high-speed fibre optics, and respond to the needs of local citizens and companies for faster internet, modern IT technology, and more sustainable solutions for the future. This transaction is also a further testament to Northern Germany’s attractiveness as an investment market and as a location for doing business.‘
Tommaso Albanese, global head and CIO of infrastructure investment at UBS-AM added: ‘This transaction provides strong growth and attractive yield prospects for our clients, thanks both to the market fundamentals and Lünecom’s strong regional presence, established management team, and close relationship with local stakeholders. The funding will provide the necessary stimulus to access a market of up to 150,000 homes in the region, further developing market penetration and growth within Northern Germany.’
