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MEAG, AVWL and Primevest establish wholesale fibre company

4 Nov 2022

German asset manager MEAG, pension fund Arzteversorgung Westfalen-Lippe (AVWL) and investment firm Primevest Capital Partners (Primevest CP) have reached an agreement on creating a joint venture for the deployment of fibre-to-the-home (FTTH) networks in Germany. MEAG and AVWL will each hold 40% in Open German Fiber, with the remaining 20% owned by Primevest CP. The joint venture will operate as a wholesale company and, together with anchor ISPs, it is set to deploy local fibre-optic networks in underserved areas across Germany. For the initial regions, the trio jointly selected areas which will provide at least 150,000 homes with access to full fibre connectivity. The areas are located in the regions of Hessen and North Rhine-Westphalia, where ISPs novanetz and YplaY will be responsible for marketing the fibre-optic network to customers. Construction work in the regions will commence this year. The transaction is subject to approval from the competent merger control authorities and closing is expected by the end of 2022.