Basalt Infrastructure Completes Acquisition of Manx Telecom
Basalt Infrastructure Partners II LP (Basalt), announced today that it has acquired control of 100 percent of the shares in Manx Telecom plc (MT) through the wholly owned subsidiary Kelion Bidco Limited. This follows the recommended cash offer, supported by MT’s board on 13 March 2019.
MT is the incumbent telecoms operator on the Isle of Man. It owns and operates the vast majority of fixed and mobile telecommunications infrastructure on the island and offers a wide range of fixed-line, broadband, mobile and data centre services to businesses, consumers and the public sector.
Commenting on the announcement, Steven Lowry, Partner of Basalt Infrastructure Partners LLP, Advisor to Basalt, said: “We are very pleased to conclude the acquisition of Manx Telecom plc. We are keen to support MT through its next phase of capital investment, which includes continued rollout of fibre to the premises (FTTP), together with future 5G mobile network requirements. We look forward to working closely with the MT management team and employees to continue to deliver high quality services to MT’s customers, and position the company for the future.”
Basalt is an infrastructure equity investment fund focusing on investments in the key sectors of energy, transportation, telecommunication and utility assets across Europe, and North America. Manx Telecom is Basalt’s sixth asset , which is also invested in Mareccio Energia, Detroit Renewable Energy, DB Energy Assets, North Star, and Caronte and Tourist. For more information, please visit www.basaltinfra.com