HICL Infrastructure pulls out of deal to buy a majority stake in ADTIM

(Alliance News) - HICL Infrastructure PLC on Tuesday said it will no longer buy a stake in ADTIM SAS, but its acquisition of Texas Nevada Transmission LLC remains on track.

HICL is a London-based investment firm, with a focus on investments in the core infrastructure sector.

In May last year, HICL said it will buy a 55% shareholding in ADTIM SAS from DIF Capital Partners from its DIF CIF I fund.

ADTIM is a wholesale fibre network providing low-density areas in the south of France with 18,300 kilometers of fibre to the home broadband infrastructure. It is operated by Axione, a subsidiary of Bouygues Energies & Services, which belongs to Bouygues SA.

On Tuesday, however, HICL said it has ended the transaction process with the seller.

The company added that it remains on track to complete its acquisition of US electricity transmission asset Texas Nevada Transmission, before March 31. This investment will be funded by HICL's GBP400 million revolving credit facility.

In September, HICL said it is buying a 46% stake in Texas Nevada Transmission, for an undisclosed sum.

Shares in HICL were up 0.5% to 166.80 pence each in London on Tuesday morning.

By Sophie Rose; Alliance News reporter

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