EQT buys German fibre optic firm Inexio at a $1.1 billion takeover deal

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EQT buys German fibre optic firm Inexio at a $1.1 billion takeover deal

Swedish infrastructure investment firm EQT, headquartered in Stockholm, had purchased German fibre optic network provider, Inexio, in an acquisition deal which could be worth as much as €1 billion, a source familiar with the deal had unveiled on Saturday, the 28th of September 2019.

Meanwhile, followed by the reveal of the news earlier on Saturday (September 28th), at the later part of the day, both parties had issued a joint statement saying private equity investor Warburg Pincus holding a majority stake on the German fibre optic network provider alongside other stakeholders had sold their entire stakes of Inexio.

Although, financial terms of the buyout deal had yet to be announced, another source directly briefed over the subject-matter had been quoted saying later on Saturday (September 28th) that the deal was sealed at around €1 billion.

In point of fact, Inexio has been providing high-speed internet to more than 100k customers alongside 6k businesses, while it has also a strategic goal to reach 2 million customers by the end of 2030. Besides, another source with knowledge regarding the issue said following the reveal of joint statement later on Saturday (September 27th) that had confirmed the takeover of Inexio that the deal was expected to be closed by the end of Q4, 2019, while the deal would be a subject to regulatory approvals.