October 08, 2020
Weil, together with DLA Piper, has advised Polhem Infra on its acquisition of Telia Carrier, a world-leading provider in backbone connectivity for data traffic, for a value of SEK 9.45 billion ($1.06 billion). With the acquisition, Polhem Infra will, through Telia Carrier, own and operate more than 74,000 km of fiber network with 320 connection points in the world. The acquisition is Polhem Infra’s first investment in digital infrastructure. Polhem Infra is jointly owned by the Swedish Pension Funds First AP Fund, Third AP Fund and Fourth AP Fund.
Telia Carrier holds the top position in the global ranking of companies with Internet backbone networks. Content, services and operator customers of Telia Carrier account for 65% of global Internet routes. Its network spans across Europe, North America and Asia, connecting customers in more than 120 countries.
The deal includes an agreement on strategic partnership. Telia Carrier and Telia Company will continue to work together to provide services and develop new solutions for customers.
The Weil team was led by Private Equity Infrastructure finance partner Paul Hibbert, who was supported by Corporate counsel Ed Freeman and associates Camille Jetzer, Bonian Wu, Christopher Marks and Sarah Chaplin. The team was also supported in the United States by Litigation counsel Timothy Welch, and associates Nathan Cunningham and Greg Chafuen.