Announced
Financials
Sources
Tags
ownership & operation of fibre optic network
building
Telecommunications infrastructure
Public
Mbo
Scheme
Pending
Friendly
Single Bidder
United Kingdom
Private Equity
Tender Offer
Majority
Synopsis
British fibre broadband company CityFibre said on Tuesday it had agreed to be acquired for £538m in cash by a consortium formed by Antin and West Street Infrastructure Partners. The consortium will pay 81 pence for each CityFibre share, a 93% premium to the closing price of 42 pence a share on Monday, CityFibre said. "I am delighted to announce Antin's intention to invest in CityFibre. We are very excited to support the company in its next phase of development as it becomes a leading alternative fibre-based communications provider in UK cities." Mark Crosbie, Antin Managing Partner.
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