DIF Capital Partners, a global infrastructure fund manager, has entered into exclusive negotiations with TDF and La Banque des Territoires to acquire the fiber business of the TDF Group, the operator of infrastructure and digital networks.

TDF Fibre, a French fiber company, is jointly owned by TDF (79.5%) and Banque des Territoires (20.5%). The company possesses four publicly-initiated networks under concession agreements, all of which are fully operational: Val d’Oise Fibre, Val de Loire Fibre, Anjou Fibre, and Faucigny Glières Fibre, along with one wholly-owned network: Yvelines Fibre. DIF Capital Partners, through its DIF Infrastructure VII fund, is in discussions to invest in TDF Group’s fiber business by acquiring the entire share capital in TDF Fibre and Lumière Fibre, a newly established entity wholly owned by TDF, to which TDF plans to contribute its engineering, maintenance, fiber deployment, and construction services divisions. Following the proposed transaction, TDF Group will continue to support TDF Fibre, particularly in network supervision. The potential investment by DIF Capital Partners will enable TDF Fibre to maintain its renowned expertise for the benefit of local authorities, individuals, and businesses, as well as to pursue growth opportunities in existing and new areas. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.