Infracapital makes GBP207m bid for Gigaclear

12 Mar 2018

Infracapital, the infrastructure fund of British asset manager M&G Investment Management, has made an offer to acquire pure fibre provider Gigaclear in a deal valued at around GBP270 million (USD374 million), Reuters reports. It is understood that under the terms of the offer, investors in Gigaclear would receive GBP4 in cash for each share they hold in the company; this figure is said to represent a 23% premium against the broadband provider’s most recent fund raise. Gigaclear’s chief executive Matthew Hare was cited as saying that his company’s board will meet this week to discuss the offer.

Last month Gigaclear announced connecting its 15,000th customer to its ultrafast broadband network, which currently covers more than 60,000 homes and businesses in 20 counties across the South West, Midlands and South East.

United Kingdom, Gigaclear, Infracapital