The EQT Infrastructure I and EQT Infrastructure II funds have entered into a definitive agreement to sell Tampnet AS to 3i Infrastructure plc, a listed long-term investor in infrastructure businesses and assets, and ATP, Denmark’s largest pension provider.

Tampnet was acquired by EQT Infrastructure in November 2012 and is the only independent owner, operator and provider of high capacity, low latency offshore communication infrastructure. The strategy has revolved around investing to drive development of the offshore fiber-backed communication infrastructure network and roll-out new low latency wireless communication (4G/LTE) to enable digitization and remote operations of the oil and gas industry and expand Tampnet’s business model geographically.

The sale is conditional on customary approvals from governmental and regulatory bodies in several jurisdictions, including the Federal Communications Commission in the US, and is expected to close in 2019.