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Eir to be sold to private investment firm

December 20, 2017 09.10 Europe/London By Julian Clover

A consortium led by NJJ Telecom Europe has agreed to acquire Irish telcom Eir for €3.5 billion.

NJJ, the private investment firm operated by telecoms investor and operator Xavier Niel, already owns the French telco Iliad.

Eir is currently owned by an investor group including Anchorage Capital Group, Davidson Kempner Capital Management LP, GIC and management.

Carl Leaver, Chairman of Eircom Holdings (Ireland) Limited, said: “Today marks an important milestone for eir, our customers and indeed for Ireland itself. Iliad and NJJ Telecom Europe bring a wealth of global telecommunications experience which will be of huge benefit to eir and its customers. Coupled with the continued involvement of our existing shareholders, Anchorage Capital and Davidson Kempner, the company is well positioned to continue its operational transformation, underpinned by sustained investment, innovative products and services and improved financial performance”.

NJJ, which will own 32.9% while existing shareholders Anchorage Capital Group and Davidson Kempner will retain a combined 35.5% share in the company, respectively 26.6% and 8.9%.

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Related

Filed Under: Finance, Newsline Tagged With: eir, Ireland Edited: 21 December 2017 10:31

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About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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