EQT acquires Ventelo for USD305m

22 Dec 2011

Swedish private equity firm EQT VI has agreed to acquire Norwegian telecoms provider Ventelo from six regional power companies – BKK, Troms Kraft, Agder Energi, NTE, Eidsiva Bredband and Altibox – for an equity value of up to NOK1.8 billion (USD304.9 million). Following the successful completion of the transaction, the new owner says it will provide expertise, resources and support for further profitable growth and expansion of Ventelo’s nationwide fibre network. ‘By acquiring Ventelo, EQT VI is taking another step towards improving the high speed fibre network offering by building a strong challenger in the Norwegian data and telecom market’, commented Anders Misund, partner and head of EQT Partners Norway, investment advisor to EQT VI, adding: ‘Currently, Norwegian companies and organisations are served with lower data speed and capacity than most people have in their homes. Going forward, the data traffic in Norway will continue to grow rapidly and EQT VI is committed to invest in developing Ventelo’s already strong offering.’ The transaction is subject to approval from the Norwegian Competition Authority.

Norway, Phonero