(PRESS RELEASE) STOCKHOLM, 6-Oct-2020 — /EuropaWire/ — Första AP-fonden (AP1), A SEK 355 billion (~ EUR 34 billion) assets under management fund, has announced its portfolio company Polhem Infra, an investor and manager of infrastructure assets jointly owned by the Swedish Pension Funds; First AP Fund, Third AP Fund and Fourth AP Fund, has signed a binding agreement for the acquisition of Telia Carrier, a world leading provider in back-bone connectivity for data traffic. Post 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.
“We are investing in an already established company, which has been developed over three decades by Swedish Telia Company. Telia Carrier manages and operates backbone fiber networks for digital communication. We see it as a long-term investment in digital infrastructure, one of our core areas”, says Mikael Lundin, CEO of Polhem Infra.
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 company is acquired at a value of SEK 9 450 million on a debt-free basis.
“Sweden has been a leader in investing in digital infrastructure since the 1990s. Telia Carrier transports a significant amount of all public Internet data traffic. Telia Carrier is one of the leading companies in the world in this industry. This digital infrastructure is a national asset that Polhem Infra will own”, says Mikael Lundin.
Polhem Infra’s strategy is to create value by investing in companies that own and operate infrastructure assets that provides essential services to society. An overall assessment has shown that internet traffic is expected to grow with around 25 percent annually. Among other things, the transition to 5G and the development of the “internet of things” is expected to drive the increase. The digital communication within global companies also makes for a positive trend, which is expected to grow in the next few years as companies connect their global operations.
“With Polhem Infra, Telia Carrier gets a long-term stable owner with digital infrastructure as a core area. Polhem Infra’s long-term perspective gives stability for customers, employees and society “, says Mikael Lundin.
For more information contact
Press service, Polhem Infra
+46 738 00 67 25
SOURCE: Första AP-fonden