Canada: euNetworks closes €2.1 billion equity recapitalization
Aug 31, 2024 | Posted by Abdul-Rahman Oladimeji
Fiber firm euNetworks has closed on a €2.1 billion equity recapitalization led by a Stonepeak-managed vehicle anchored by Mercer and Aware Super. This funding received direct investments from the Investment Management Corporation of Ontario (IMCO) and APG Asset Management. In a statement, euNetworks said the latest refinancing will help the company "continue to scale and execute against its strategic priorities."
“Our successful debt refinancing and equity recapitalization underscores the robust value proposition and fundamental infrastructure delivered by euNetworks," said Kevin Dean, interim chief executive of euNetworks.
"We’ve had a fantastic partnership with Stonepeak and IMCO since 2018 along with our other investors, and we extend our gratitude to them for their unwavering support. The combination of Stonepeak, IMCO, APG, Mercer, and Aware Super coming together as the new euNetworks represents a very strong opportunity for our customers, our people, our partners, and the communities in which we operate."
