We are pleased to announce that Shere Group Ltd (“Shere”) has completed the acquisition of a portfolio of 460 telecommunication towers located in the Netherlands from KPN, the incumbent Dutch telecommunication operator. The acquisition completed in two tranches with the first, representing 66% by value, closing on 8 December 2011 and the second, representing 34% by value, closing on 31 January 2012.
Shere’s portfolio now comprises 933 sites in the UK and Netherlands. The investment has been made at an attractive valuation and well within the Fund’s return and yield targets.
This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.