Ashurst advised John Laing Group plc (John Laing) on the acquisition of Jobst-NET GmbH (Jobst-NET) and EFN eifel-net Internet-Provider GmbH (EFN eifel-net). With these acquisitions John Laing aims at creating a single integrated platform to invest in FTTP technology (fibre-to-the-premises) in Germany.
The transaction comprised the acquisition of 100% of the shareholdings in the two telecommunications businesses, located in southern and western Germany, which are both in the early stages of FTTP roll-out programmes, focusing on delivering connectivity to under-served rural areas in Germany. In addition, John Laing has committed to further investments to finance the fibre roll-out. Given the growth potential of the roll-out strategy, this platform represents a material opportunity for further investments by John Laing over time.
UK-based John Laing Group is a leading international infrastructure investor. Founded in 1848, the company focuses on major transport, social and environmental infrastructure projects awarded under governmental public-to-private partnership programmes and implemented more than 150 projects in the last 40 years.
EFN eifel-net is a full-service provider offering mainly VSDL internet services to retail and business customers in rural areas and towns, predominantly in North Rhine-Westphalia. The company with headquarters in Euskirchen was founded in 1991 and currently has a network covering approximately 13,000 homes passed. Amberg-based Jobst-NET offers as a full-service provider also mainly VSDL services to retail, business customers and housing associations in the northern part of Bavaria. Founded in 2008, the company's network currently covers around 10,000 homes passed.
The Ashurst team was led by partner Dr Benedikt von Schorlemer (Corporate) and partner Dr Maximilian Uibeleisen (Resources & Infrastructure). They were assisted by counsel Holger Mlynek and associate Dr Simon Groneberg (both Resources & Infrastructure) as well as associates Jan Ischreyt and Quynh Anh Le (both Corporate). Partner Dr Andreas Mauroschat and counsel Lukas Müller advised on employment law, partner Dr Anders Kraft provided advice on tax law aspects.
