PGGM and EDF to acquire a minority stake in Norlys
A consortium consisting of PGGM Infrastructure Fund and EDF Invest has acquired a minority stake in Norlys' fiber business. Both PGGM and EDF have solid experience with fiber investments in countries such as Germany, France, the Netherlands and Belgium.
About PGGM
PGGM is a not-for-profit cooperative pension fund service provider. As a pensions administrator, asset manager and advisor to pension fund boards, it executes its social mandate to provide for good old-age incomes for 4.4 million participants in the Netherlands. On 31 December 2021, PGGM managed long-term pension capital of EUR 291 billion worldwide. PGGM's member organisation supports 764,000 workers and pensioners with a background in healthcare.
About EDF Invest
EDF Invest is the investment arm of the EDF Group, which supports part of the financing of the future decommissioning of nuclear power plants in France through its portfolio of unlisted assets. EDF Invest follows a long-term minority investment approach and invests alongside renowned partners in solid structures with prospects for sustained and long-term growth. EDF Invest currently manages around EUR 9 billion of equity and is targeting around EUR 12 billion in the next few years.
About Norlys
Norlys is a Danish cooperative which delivers electricity and Internet. It has 709,000 members and approximately 1.7 million customers.
The core team consisted of Thomas Holst Laursen, Jakob Skafte-Pedersen, Niels Chr. Ellegaard, Morten Stig Ottesen, Lise Aaby Nielsen and Josephine Fischer Kjærulff.
Read PGGM's press release
Read EDF's press release