DJ Royal KPN N.V. Press Release: KPN, APG and Glaspoort agree on extension fiber rollout by JV
Royal KPN N.V. Royal KPN N.V. Press Release: KPN, APG and Glaspoort agree on extension fiber rollout by JV 06-Dec-2021 / 08:00 CET/CEST
-----------------------------------------------------------------------------------------------------------------------
KPN, APG and Glaspoort agree on extension fiber rollout by JV
Rotterdam, 6 December 2021 - Today, Royal KPN N.V. (KPN) announces that KPN, APG (investing on behalf of its pension fund client ABP) and Glaspoort signed an agreement to extend the scope of the fiber rollout of the joint venture Glaspoort. All parties reassessed the scope of the JV and agreed to a limited extension of the original scope by 170k households, which Glaspoort also expects to finance with 70% debt on a non-recourse basis and 30% equity by the joint venture partners.
KPN will receive EUR 85m (pre-tax) for the sale of its 50% share in the additional scope. This is split in an initial payment of EUR 30m and another EUR 55m to be paid in annual installments based on the rollout progress.
-----------------------------------------------------------------------------------------------------------------------
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
End of Announcement - EQS News Service
1254291 06-Dec-2021
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1254291&application_name=news
(END) Dow Jones Newswires
December 06, 2021 02:00 ET (07:00 GMT)
