MEAG has announced that MEAG, Ärzteversorgung Westfalen-Lippe (ÄVWL) and Primevest Capital Partners (Primevest CP), have reached an agreement on creating the joint venture Open German Fiber to deploy Fiber-to-the-Home (FTTH) in Germany.

MEAG and ÄVWL will each own 40% of the joint venture and Primevest CP will each own 20%, which has been appointed as the asset manager and will coordinate investment plans. The joint venture will operate as a wholesaler and, together with anchor internet service providers (ISPs), will deploy local fiber networks in the such initial regions as Hesse and North Rhine-Westphalia for at least 150,000 homes. 

Primevest CP is partnering with ISPs novanetz and YplaY through an investment in its Primevest Communication Infrastructure Fund (PCIF), while MEAG will invest on behalf of the Munich Re companies and MEAG's infrastructure fund for institutional investors MEAG European Infrastructure One. The transaction is expected to close during 2022 after approval from the competent merger control authorities.