FIRST STATE INVESTMENTS AGREES TO ACQUIRE DIGITA
First State European Diversified Infrastructure Fund FCP-SIF, the European Infrastructure fund of First State Investments, has agreed to acquire Digita Oy, Finland’s leading provider of broadcast tower infrastructure, from TDF Group.
Marcus Ayre, Head of Infrastructure Transactions at First State Investments, said: “We are pleased to have reached an agreement to make Digita our first infrastructure investment in Finland. Digita provides an important service, operating a high quality nationwide broadcast network and we look forward to working closely with the Digita management, employees and stakeholders to ensure the continued success and sustainable growth of Digita’s business over the long term.”
Olivier Huart, CEO of TDF, said: “We are very pleased to have reached an agreement with First State Investments. We are proud that under TDF’s ownership Digita has been a pioneer in developing and adapting new broadcasting technologies for the benefit of the end-users. Furthermore, we believe that under First State Investments’ ownership Digita will continue to be well-positioned to further develop as Finland’s leading broadcast network company. This divestiture is in line with TDF’s strategy to focus on France and Germany, its two largest core markets, and develop its Media Services Business Unit.”
Sirpa Ojala, CEO of Digita, said: “We are delighted to welcome First State Investments’ ownership being an organisation that has a strong track record of high quality service and one which is committed to further develop our capability for the long-term. This new partnership will enable further investment in the network and the opportunity to create value for all our stakeholders.”
The transaction is subject to the approvals of the Finnish Ministry of Employment and Economy and the Finnish Council of State.
About First State Investments
First State Investments is the international arm of Colonial First State Global Asset Management (‘CFSGAM’), the specialist asset management business of the Commonwealth Bank of Australia. CFSGAM is one of the largest Australian-based investment managers with offices in Sydney, Melbourne, Auckland, London, Edinburgh, Luxembourg, Paris, New York, Hong Kong, Singapore, Jakarta and Tokyo and has €118 billion in assets under management as at 30 June 2012.
First State Investments has a range of product solutions to institutional, intermediary and retail investors globally across a diverse range of asset classes. These include Australian equities, global equities, global emerging market equities, global resource equities, global property securities, global listed infrastructure securities, global fixed interest and credit, emerging market debt and short term investments. In addition, we have a direct asset management business which provides access to specialist property and infrastructure investments.
First State Investments is a leading manager of, and investor in, infrastructure assets. With eighteen years’ experience in infrastructure investment, it is one of the longest established managers of infrastructure assets on behalf of institutional investors and as at 30 June 2012, managed in excess of €2 billion of equity invested across assets in the utility, transport, telecommunications and social infrastructure sectors in Australasia and Europe.
In infrastructure, First State Investments favours a long term buy and hold strategy for long-life, stable assets and pursues an active asset management philosophy in which it seeks to engage with management, employees and other stakeholders.
First State Investments has been actively expanding its presence in the European market since establishing an infrastructure investment office in the UK in 2005. The investments of First State European Diversified Infrastructure Fund include:
- Electricity North West, a regulated UK electricity distribution network;
- Anglian Water Group, a regulated UK water and wastewater business, and
- Reganosa, a regulated Spanish LNG regasification plant and gas transmission network.
About TDF Group
Working at the very heart of the digital revolution, TDF is developing a multi-format and multi-support terrestrial platform for managing and distributing audio, video and data content to all types of receivers. As a dedicated broadcaster and designer of telecom networks, TDF is positioned at the nexus of the new digital, mobile and multimedia technologies by using all means of transmission: terrestrial, IP, satellite, etc. For years, TDF has been creating innovative solutions, to the point it is now developing tomorrow’s communications, channels such as digital cinema, 3D, connected DTT, video on-demand, catch-up television, digital radio, web broadcasting, real-time traffic display and ultra-high speed telecom networks. The singular goal here is to provide our customers and end users with media whenever, wherever, and however they wish…
Digita Oy is a pioneer in wireless and digital solutions. Digita employs experts in modern technology actively involved in developing standards in the field. This guarantees reliable expertise and comprehensive digital solutions for clients. Digita’s organisation covers the whole country and offers high quality service 24 hours a day. Digita’s clients include television and radio broadcasting companies as well as mobile and broadband operators. Digita is a Finnish company.
Digita transmits radio and television programmes to all people living in every corner of Finland every day of the year. This fundamental task has created the basis for our other services in the field of wireless transfer of data. Our expertise is based on long experience in utilising radio frequencies, high-power transmissions and high masts. Our broadcasting network covering the whole of Finland consists of 36 main broadcasting stations, 152 substations, and dozens of transmission link stations. Digita’s Network Management Centre in Helsinki monitors the operation of the networks 24 hours a day.