IFM Investors’ Joint Venture With Deutsche Telekom

Latham & Watkins advised IFM Global Infrastructure Fund on the deal. Noerr, WilmerHale and Freshfields Bruckhaus Deringer advised Deutsche Telekom. Gleiss Lutz advised Brookfield.

IFM Global Infrastructure Fund, advised by IFM Investors (together “IFM”) announced a longterm partnership with Deutsche Telekom. IFM will acquire a 50 percent stake in group subsidiary and fiber roll-out company GlasfaserPlus GmbH. 

The resulting Joint Venture, aims to roll out additional gigabit-capable FTTH (fiber to the home) to over four million homes in rural and subsidized areas in Germany by 2028. Subject to pending merger control and other applicable approvals by the relevant authorities, the joint venture is expected to roll out fiber networks from 2022 and also participate in government subsidy tenders. The resulting network will be opened up to Deutsche Telekom as well as its competitors on a non-discriminatory basis. GlasfaserPlus GmbH will offer attractive bitstream access (BSA) services to Deutsche Telekom and third-party providers on a wholesale basis. 

IFM Investors was established more than 25 years ago and is owned by a group of Australian pension funds. IFM Investors manages funds of €108bn (as at June 30 2021) on behalf of pension funds and other like-minded institutional investors, who represent more than 30 million pension fund members globally. IFM Investors actively engages on ESG issues with the companies in which it invests with the aim of enhancing their net performance while minimising investment risk. 

Latham represented IFM with a team jointly led by London corporate partner John Guccione (Picture) and Düsseldorf corporate partner Tobias Larisch as well as London finance partner Conrad Andersen, with Düsseldorf corporate associates Katharina Intfeld, Alexander Belk, and Ivo Wanwitz. Advice on regulatory matters was provided by Frankfurt counsel Joachim Grittmann and associate Alexander Wilhelm; and on antitrust matters by Hamburg counsel Jana Dammann de Chapto and Frankfurt associate Nicolas Jung.

The Noerr team included Dr. Jens Liese (Corporate/M&A, Dusseldorf), Dr Tobias Frevert (Telecommunications, Berlin), Gerrit Henze (Dusseldorf), Dr Moritz Koch (Hamburg), Dr Frank Hölscher, Dr Julian von Lucius, Pascal Schumacher (all Berlin) and Michael Tommaso (Berlin).

The inhouse team at Deutsche Telekom AG included Dr Axel Lützner, Rainer Stockmann (all M&A), Dr Christoph von Damm (Head of Real Estate and Networks), Christoph Appel, Dr. Hilmar Leonhardt, Annuschka Badura, Uta Rieforth, Tobias Nürnberg, Imke Bubert, Marcus Scholl (Carrier Business & Infrastructure), Andreas Geyder (B2B), Prof. Dr. Christian Dorenkamp, Valentina Farle, Ulrich Hartmann.

The WilmerHale team included Dr. Stefan Ohlhoff, Dr. Oliver Fleischman, Zakiya Mzee.

The Freshfields Bruckhaus Deringer team was led by Dr. Frank Laudenklos.

The Gleiss Lutz team included Dr. Cornelia Topf (Corporate/M&A); Associate: Hannah Bug.

 

Involved fees earner: Frank Laudenklos – Freshfields Bruckhaus Deringer LLP; Hannah Bug – Gleiss Lutz; Cornelia Topf – Gleiss Lutz; Conrad Andersen – Latham & Watkins; Alexander Belk – Latham & Watkins; Jana Dammann de Chapto – Latham & Watkins; Joachim Grittmann – Latham & Watkins; John Guccione – Latham & Watkins; Katharina Intfeld – Latham & Watkins; Nicolas Andreas Jung – Latham & Watkins; Tobias Larisch – Latham & Watkins; Ivo Wanwitz – Latham & Watkins; Alexander Wilhelm – Latham & Watkins; Tobias Frevert – Noerr; Gerrit Henze – Noerr; Frank Hölscher – Noerr; Moritz Koch – Noerr; Jens Liese – Noerr; Pascal Schumacher – Noerr; Michael Tommaso – Noerr; Julian von Lucius – Noerr; Oliver Fleischmann – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Zakiya Mzee – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Stefan Ohlhoff – WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Law Firms: Freshfields Bruckhaus Deringer LLP; Gleiss Lutz; Latham & Watkins; Noerr; WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Clients: Brookfield; Deutsche Telekom; IFM Global Infrastructure Fund;