Pantheon Infrastructure backs rural Irish communities with investment

(Alliance News) - Pantheon Infrastructure PLC on Wednesday said it will invest in National ...

Alliance News 9 November, 2022 | 11:43AM
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(Alliance News) - Pantheon Infrastructure PLC on Wednesday said it will invest in National Broadband Ireland through its long-term partner, Asterion Industrial Partners.

The London-based infrastructure investment fund has committed an investment of EUR52.7 million in Asterion's interest in National Broadband, an Irish fibre-to-the-premises network developer and operator.

National Broadband was chosen by the Irish Department for Environment, Climate & Communications to support the country's National Broadband Plan.

The company is responsible for passing and connecting approximately 560,000 premises in rural areas stretching across 96% of Ireland's farms, making it the largest rural infrastructural project in the country since electrification.

Pantheon said the investment was in line with its strategy of building a "diversified portfolio of infrastructure assets benefiting from structural growth drivers".

"We are delighted to announce this latest transaction in a high-quality fibre asset alongside our long-standing partner Asterion," said Pantheon partner Richard Sem.

"NBI's commitment to providing high-speed broadband to underserved areas in Ireland makes it a compelling investment proposition which has a positive impact on local communities."

Pantheon shares were trading down 1.7% at 94.20 pence each in London on Wednesday morning.

By Holly Beveridge;

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Pantheon Infrastructure Ord 81.40 GBX -0.73 -

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