Imagine secures €120m in Brookfield deal
11 May 2018 | 0
Global investor Brookfield is to acquire a 50.1% indirect controlling interest in Imagine Communications Group in a deal worth €120 million.
The transaction is subject to competition and regulatory approval and is expected to complete in the third quarter of 2018.
“This [investment] represents a significant commercial investment in essential infrastructure in Ireland to finally deliver the long-awaited benefit of high-speed broadband service, particularly to users and communities in the underserved rural and regional areas,” said Imagine co-founder and chairman Sean Bolger.
“For Imagine it was important to have an investor and partner who understood the significance and scale of the opportunity. As a leading global investor and operator of real assets and with its understanding of essential infrastructure, experience in scaling businesses and global reach, Brookfield is the right partner.
“With the network already live and delivering high speed broadband services to 20,000 existing customers in rural areas, fully funded we will now commence the full commercial rollout of the network and the availability of next generation high-speed broadband services of 150Mb/s to over 300 areas and 1.4 million premises within two years, with further investment in additional sites to meet customer demand.”
Details of the full commercial rollout and availability of the services will be announced in the coming months.