Interogo and Mubadala’s Acquisition Of A Minority Stake In CityFibre

In UK Clifford Chance, White & Case, advised on the matter.

Clifford Chance advised Interogo Holding A.G. with a team including André Duminy (Commercial Law), Toby Parkinson (Picture – Corporate M&A), Nick Mace (Tax M&A and Deal Advisory).

White & Case advised CityFibre Infrastructure Holdings Plc with a team including Caroline Sherrell (Corporate M&A).

Interogo Holding acquired a minority interest in CityFibre, alongside joint shareholder Mubadala Investment Company. The all-equity investment into CityFibre is valued at £825 million.

CityFibre Holdings is currently owned by Antin Infrastructure and Goldman Sachs Infrastructure who undertook a competitive equity capital raise to find additional funds to assist with the funding of rollout of fibre in the UK which Interogo and Mubadala have successfully participated in.

CityFibre is the UK’s largest alternative provider of wholesale fibre network infrastructure and it has pledged to invest up to £4bn to deploy a full-fibre network that would reach up to 8 million premises by 2025. Such a programme would make the company the largest independent full-fibre platform in the UK, and second only to Openreach. CityFibre is under construction or mobilised in 67 “tier-two” cities in the UK, with more than 500,000 homes currently ready for service.

Clifford Chance’s multidisciplinary team was led by Partner Toby Parkinson (Picture) with support from Senior Associate Jonathan Dillon, Associate Mark Inkester and Lewis Barton. TMT advice was provided by Partner Andre Duminy, Senior Associate Mark Fisher and Associate Hannah Collins. Partner Nick Mace and Senior Associate Ed Page supported on Tax.

The White & Case team in London which advised on the transaction was led by partner Caroline Sherrell, with support from counsel Laura Fletcher and associates Heidi Blomqvist, Rob Wake-Walker and Josephine Levick.

Involved fees earner: Hannah Collins – Clifford Chance; Jonathan Dillon – Clifford Chance; André Duminy – Clifford Chance; Mark Inkester – Clifford Chance; Nick Mace – Clifford Chance; Edward Page – Clifford Chance; Toby Parkinson – Clifford Chance; Mark Fisher – CMS Cameron McKenna Nabarro Olswang LLP; Heidi Blomqvist – White & Case; Laura Fletcher – White & Case; Josephine Levick – White & Case; Caroline Sherrell – White & Case; Robert Wake-Walker – White & Case;

Law Firms: Clifford Chance; CMS Cameron McKenna Nabarro Olswang LLP; White & Case;

Clients: CityFibre Infrastructure Holdings Plc; Interogo Holding A.G.;

Author: Giulia Di Palma