APG Finances Polish Fiber Rollout with Orange
Posted on 04/12/2021
APG Asset Management is kicking in €303 million in a Polish fiber optic rollout. Orange Polska, part of Orange Group, revealed the creation of a FiberCo co-owned (50:50) with APG Asset Managmeent. This joint venture aims to support the rollout of fiber in Poland, in areas where access to very high-speed broadband infrastructure is limited or inexistent. The FiberCo integrates 2.4 million lines, including 1.7 million households that will be deployed over the next five years. This transaction values the joint venture at 2,748,000,000 PLN (605 million euros) following a competitive process aimed at seeking out a long-term partner. As a result, Orange Polska will receive 1,374,000,000 PLN (303 million euros) from APG, of which 65% will be transferred on closing and the rest between 2022 and 2026 as the deployment plan advances.
APG is experienced in infrastructure management and will provide Orange the financial backing necessary to achieve its ambitious five-year fiber roll-out program in Poland.
APG oversees Stichting Pensioenfonds ABP.