April 21 (Reuters) - Swedish investment group EQT and Canadian pension fund Omers have offered to increase their investment in broadband provider Deutsche Glasfaser to nearly 5 billion euros ($5.89
EQT and Omers Boost Deutsche Glasfaser Investment to €5 Billion
Investment Details and Background
April 21 (Reuters) - Swedish investment group EQT and Canadian pension fund Omers have offered to increase their investment in broadband provider Deutsche Glasfaser to nearly 5 billion euros ($5.89 billion), the Financial Times reported on Tuesday.
Key Financial Highlights
Here are some details:
Breakdown of Additional Investment
• The investors, who have already injected 4 billion euros into Glasfaser, will add around 850 million euros for preferred equity with lenders to inject 400 million euros of new super-senior debt, FT said, citing people familiar with the matter.
Verification and Responses
• Reuters could not immediately verify the report. EQT, Omers and Deutsche Glasfaser did not immediately respond to requests for comment.
Strategic Context
Reasons for Increased Investment
• EQT and Omers are stepping up their investment after failing to find another backer to take a stake in the German company, which has over 7 billion euros of gross debt, FT earlier reported.
Acquisition History
• The investors acquired Deutsche Glasfaser from private equity firm KKR in 2020, with the Swedish firm holding a 51% stake and Omers owning the remainder.
Currency Exchange Rate
($1 = 0.8493 euros)
Reporting Credits
(Reporting by Disha Mishra in Bengaluru; Editing by Ronojoy Mazumdar and Sonia Cheema)
