Plesner advised PGGM and EDF Invest on the deal.
Energy-telco group Norlys has signed a conditional agreement to sell a 35% stake in its wholesale fibernet business to a consortium led by PGGM, the Dutch pension investor, and including EDF Invest, the real assets fund of the French energy group EDF.
PGGM is a not-for-profit cooperative pension fund service provider. As a pensions administrator, asset manager and advisor to pension fund boards, it executes its social mandate to provide for good old-age incomes for 4.4 million participants in the Netherlands. On 31 December 2021, PGGM managed long-term pension capital of EUR 291 billion worldwide. PGGM’s member organisation supports 764,000 workers and pensioners with a background in healthcare.
EDF Invest is the investment arm of the EDF Group, which supports part of the financing of the future decommissioning of nuclear power plants in France through its portfolio of unlisted assets. EDF Invest follows a long-term minority investment approach and invests alongside renowned partners in solid structures with prospects for sustained and long-term growth. EDF Invest currently manages around EUR 9 billion of equity and is targeting around EUR 12 billion in the next few years.
Norlys is a Danish cooperative which delivers electricity and Internet. It has 709,000 members and approximately 1.7 million customers.
The Plesner team consisted of Thomas Holst Laursen (Picture), Jakob Skafte-Pedersen, Niels Chr. Ellegaard, Morten Stig Ottesen, Lise Aaby Nielsen and Josephine Fischer Kjærulff.
Involved fees earner: Niels Christian Ellegaard – Plesner; Josephine Fischer Kjærulff – Plesner; Thomas Holst Laursen – Plesner; Lise Aaby Nielsen – Plesner; Jakob Skafte-Pedersen – Plesner; Morten Stig Ottesen – Plesner;
Law Firms: Plesner;