Advised on Equity PlacementTechnology
Acquired a Majority Stake
Highland Group Holdings Ltd., the investment vehicle of Scotland-based Lord Irvine Laidlaw, has acquired an 80% equity stake in L2Fiber Rotterdam B.V., to develop, build and operate a citywide, open-access fiber optic network in Rotterdam, the Netherlands.
L2Fiber plans to bring fiber optic access to all 295,000 homes in Rotterdam over the next 5 years. The first phase of construction began in August 2018, with the 10,000 homes in Kralingen-West. The project finance deal comprises a combination of common equity and shareholder loans, which could lead to a total equity injection of more than €200 million. A construction agreement with a contractor has been negotiated by L2Fiber and Highland, requiring a minimum 25% subscription rate among residents in order to commence any subsequent network construction phases.
IMAP Netherlands acted as exclusive Financial Advisor to Highland.