ABG Sundal Collier acted as Financial Advisor to KKR in connection with the divestment of 30% of Telenor Fiber AS to a consortium lead by KKR and Oslo Pensjonsforsikring

Telenor has today entered into an agreement to divest 30% of the newly established company Telenor Fiber AS in Norway to a consortium led by KKR and Oslo Pensjonsforsikring. The agreed sales price represents an enterprise value for the Norwegian fibre business of NOK 36.1 billion, generating proceeds of approximately NOK 10.8 billion to Telenor. The transaction value represents 21x the proforma EBITDA of NOK 1.7 billion for 2021.
“We are very excited to be investing long-term capital behind Norwegian infrastructure. KKR has significant experience within telecom infrastructure investing, and we look forward to supporting Telenor with its fibre strategy in Norway”, says Julian Barratt-Due, Director, European Infrastructure at KKR.
The transaction is expected to be completed early 2023.