Ireland-France Subsea Cable Limited (IFSC) has announced a partnership with Tiger Infrastructure Partners to finance and construct IFC-1, a submarine fiber-optic cable system that will be the first and only direct subsea cable between Ireland and France.
The transaction is expected to close following customary regulatory approval and other conditions precedent. Further financial terms of the transaction were not disclosed. The IFC-1 system will be a state-of-the-art subsea cable and provide ultra-high capacity transmission to telecommunication carriers, Internet companies and large enterprises in Ireland looking for connectivity to continental Europe.
The subsea cable has been designed to extend terrestrially into Dublin, Ireland and Paris, France providing PoP-to-PoP connectivity and enabling long digital line segments. The system is scheduled to be ready for service in late 2018. Oppenheimer & Co. Inc. acted as the exclusive financial advisor to IFSC in connection with this transaction.
Michael Cunningham, Chairman of IFSC said:
“The massive growth of Ireland’s data center industry and the requirement for resilient telecommunications infrastructure has created the need for a new, direct route to continental Europe. We are delighted that Tiger Infrastructure shares our vision and look forward to having them as our partner.”
Emil Henry, CEO and Managing Partner of Tiger Infrastructure Partners said:
“We are pleased to be working with IFSC and its experienced leadership team to develop and build this strategic cable between Ireland and France.”
Sanef, Abertis’ subsidiary in France, has reached an agreement with the French Government for the launching of a new investment plan for the upgrading of its road network.
Read moreAbertis has decided to exercise its preferential acquisition rights for the Caisse des Dépôts et Consignations’ stake in Holding d’Infrastructures de Transports which controls 100% of Sanef.
Read moreEdmond de Rothschild Asset Management has completed a first close of its second vehicle, the Benjamin de Rothschild Infrastructure Debt Generation (BRIDGE) fund.
Read moreFrench civil service pension fund ERAFP has committed €350 million (US$368.4 million) to Ardian France and Access Capital Partners for infrastructure and private equity funds of funds, respectively.
Read moreSNC-Lavalin has announced that it has signed and closed an agreement to sell its ongoing activities in France and in Monaco to Ciclad and Impact Holding for a nominal amount, including its investment in Société d’Exploitation de l’Aéroport de Mayotte.
Read more