Baker & McKenzie Advises EQT on Acquisition of Ventelo Holding AS
Deal Announcement
23 December 2011
London, UK, 23 December 2011 – Baker & McKenzie has advised leading private equity group EQT on the financing of EQT VI fund's acquisition of data and telecom provider Ventelo Holding, from BKK, Troms Kraft, Agder Energi, NTE, Eidsiva Bredbånd and Altibox for an equity value of up to NOK 1,800 (£195 million). It is one of a number of deals for EQT undertaken by Baker & McKenzie in the past two years.
Ventelo Holding is Norway’s second largest provider of data and telecom solutions, in addition to controlling one of only two nationwide fiber networks in Norway, with metro ring networks in the largest cities.
Baker & McKenzie Partner and Global Chair of Banking and Finance, Bernard Sharp, who led on the deal said, "We are pleased to have worked with EQT on another major deal in the Nordic data and telecoms market." Michael Bauer, Director with EQT, said "we highly appreciate the work performed by Bernard and his team and Baker & McKenzie's consistent value-added and high quality service."
The acquisition of Ventelo Holding follows EQT's acquisition of dark fibre network operator Hafslund Fibernett (now InFiber) in January 2011. Baker & McKenzie also advised on this transaction.
“By acquiring Ventelo, EQT VI is taking another step towards improving the high speed fiber network offering by building a strong challenger in the Norwegian data and telecom market. Currently, Norwegian companies and organisations are served with lower data speed and capacity than most people have in their homes. Going forward, the data traffic in Norway will continue to grow rapidly and EQT VI is committed to invest in developing Ventelo’s already strong offering,” said Anders Misund, Partner and Head of EQT Partners Norway, investment advisor to EQT VI.
EQT is the leading private equity group in Northern Europe, with approximately €18 billion in raised capital and multiple investment strategies.
The Baker & McKenzie team also included London Senior Associate Thomas Ehrensberger and Associate Matthew Hope.
Bugge, Arentz-Hansen & Rasmussen advised EQT as to Norwegian law. Linklaters and Wilkborg Rein advised the arranging banks DnB, Nordea and SEB.
Baker & McKenzie has completed a number of deals for EQT worldwide, including the acquisition of a controlling interest in Stockholm-listed AcadeMedia, Sweden's largest private education group and the financing of its acquisition of XXL Sport & Villmark, Norway's fastest growing sports retail chain, in 2010.