Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Pantheon Infrastructure PLC on Wednesday said it will invest in National Broadband Ireland through its long-term partner, Asterion Industrial Partners.
The London-based infrastructure investment fund has committed an investment of €52.7 million in Asterion's interest in National Broadband, an Irish fibre-to-the-premises network developer and operator.
National Broadband was chosen by the Irish Department for Environment, Climate & Communications to support the country's National Broadband Plan.
The company is responsible for passing and connecting approximately 560,000 premises in rural areas stretching across 96% of Ireland's farms, making it the largest rural infrastructural project in the country since electrification.
Pantheon said the investment was in line with its strategy of building a "diversified portfolio of infrastructure assets benefiting from structural growth drivers".
"We are delighted to announce this latest transaction in a high-quality fibre asset alongside our long-standing partner Asterion," said Pantheon partner Richard Sem.
"NBI's commitment to providing high-speed broadband to underserved areas in Ireland makes it a compelling investment proposition which has a positive impact on local communities."
Pantheon shares were trading down 1.7% at 94.20 pence each in London on Wednesday morning.
Copyright 2022 Alliance News Limited. All Rights Reserved.