NJJ-led consortium completes eir majority stake acquisition

10 Apr 2018

The acquisition of a majority stake in fixed and mobile operator eir has been completed by a consortium led by NJJ Telecom Europe, part of Xavier Niel’s private investment firm NJJ Group. As previously reported by TeleGeography’s CommsUpdate, in December 2017 the consortium agreed to acquire a 32.9% majority stake in the Irish company at an enterprise value of approximately EUR3.5 billion (USD4.1 billion). A new board of directors has been appointed, with CEO Carolann Lennon stating: ‘I am looking forward to managing eir into the next phase of its development. I will work with a new senior management team, all of whom have been appointed from within eir and who have substantial industry knowledge and market experience.’

The remainder of eir is owned by Iliad (31.6%, also a company majority-owned by Xavier Niel), Anchorage Capital Group (26.6%) and Davidson Kempner (8.9%).

Ireland, eir, NJJ Group (incl. NJJ Telecom Europe)