Shearman & Sterling advised Igneo Infrastructure Partners (Igneo), a part of First Sentier Investors Group, on a joint venture with E.ON for the rollout of high speed broadband infrastructure in Germany. Igneo will acquire a 50% participation in Westenergie Breitband GmbH, a wholly owned subsidiary of E.ON SE. The transaction, which is subject to customary approvals, is expected to close by the end of 2022.
The new joint venture aims to supply more than 1.5 million German households with full fiber broadband.
Igneo is an autonomous investment team of the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in Europe, North America, Australia, and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management. Igneo manages US$14.6 billion worth of assets (as at 31 March 2022) on behalf of more than 120 institutional investors around the world.
The M&A team led by partner Florian Harder advises First Sentier Investors and Igneo Infrastructure Partners on a regular basis.