NDIF Partners with New Investor on AirbandSource: RNS
NDIF partners with new investor on Airband
30 November 2020
International Public Partnerships Limited ('INPP', the 'Company'), the listed investment company which invests in global public infrastructure projects and businesses, notes Airband Community Internet Limited's ('Airband'), Aberdeen Standard Investments ('ASI') and Amber Infrastructure Group's ('Amber') announcement today that ASI has entered an agreement to invest in Airband alongside the existing shareholders.
The Amber-managed National Digital Infrastructure Fund ('NDIF'), in which INPP is invested, is an existing investor in Airband. ASI will acquire a majority stake in Airband, with Amber and the founders of the Company retaining minority positions.
The transaction involves a part realisation by NDIF of its investment to ASI. While the terms of the transaction are confidential, the transaction reflects a positive return on NDIF's original investment and supports further growth for Airband.
Airband is a provider of rural connectivity services across the West of England, historically through Fixed Wireless Access ('FWA'). Since 2018, the business has moved towards providing Fibre to the Premises ('FTTP'), driven by UK Government led initiatives, including subsidies to promote significant investment in fibre infrastructure in rural areas. The business has a network footprint covering thousands of homes across the West of England, and has secured significant contracts underpinning a business plan that targets more than an additional 500,000 premises by 2025, through a combination of subsidised and unsubsidised capital investment.
Please see further information here: www.amberinfrastructure.com.
For further information:
Erica Sibree/Amy Joslin +44 (0)20 7939 0558/0587
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
About International Public Partnerships:
INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.
INPP is a responsible, long-term investor in 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of 130 staff who are responsible for the management of, advice on and origination of infrastructure investments.