APG has entered into an agreement to acquire a significant minority stake in euNetworks, a pan-European provider of Business-to-Business (‘B2B’) fiber infrastructure. With a fiber optic network of 53,300 km, connecting 53 cities in 17 European countries, euNetworks is a market leader in data center connectivity. For APG, this investment is an attractive opportunity to gain access to the European B2B fiber market, which functions as the backbone of all connectivity in Europe.
"We are impressed by euNetworks' growth track record, network quality, focus on customers and sustainability," said APG's Head of Infrastructure Europe, Arjan Reinders. "We are delighted to become a direct shareholder of euNetworks on behalf of our pension fund client ABP. We are looking forward to supporting the euNetworks team in the further development of their strategic vision."
APG is investing alongside Stonepeak, who first acquired a majority interest in euNetworks in January 2018, and the Investment Management Corporation of Ontario (IMCO).
Read the full press release here.