Macquarie European Infrastructure Fund 4 buys Slovakia's Towercom

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Macquarie European Infrastructure Fund 4 buys Slovakia's Towercom

Macquarie European Infrastructure Fund 4 (MEIF4) has agreed to buy a 100% stake in the Slovak incumbent telco Towercom from Hampden Investments for an undisclosed fee.

Slovak and Czech media reported that the deal is still subject to regulatory approvals.

Towercom has 685 broadcast towers, providing extensive distribution of TV and radio signals throughout Slovakia.

Significantly, Macquarie infrastructure funds already owns 100% of Ceske Radiokomunikace (CRa), Towercom's counterpart in the Czech Republic.

Macquarie European Infrastructure Fund 4 (MEIF4) was launched following the successful investment of its predecessor funds, MEIF1, MEIF2 and MEIF3 and to capitalise on a strong pipeline of opportunities in the European infrastructure market. MEIF4 had its final close in April 2013 with total commitments of €2.7 billion, ahead of its €1.5 to €2 billion target. MEIF4 is targeting core infrastructure investments that offer some or all of the following characteristics:

  • Essential services to the community
  • Strategic competitive advantage
  • Inflation link
  • Sustainable and predictable cashflows over the long-term

MEIF4 has already two existing investments in European gas networks: Open Grid Europe, Germany's largest gas network which was acquired from e.ON in July 2012; and a Czech gas network co-owned with RWE since December 2012.

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