Abu Dhabi Investment Group (“ABDIG”), a private investment group from Abu Dhabi, has announced an investment to acquire 62.5% of Fiber Prime Telecommunication´s (FPT) shares, the company said.
ABDIG is planning to invest up to USD 5 billion in subsea cable projects and will restructure FPT to become a top tier worldwide subsea cable company. FPT is proven leaders in providing fast, affordable, and reliable data services.
After careful consideration and deliberation, FPT´s board concluded that the sale of FPT to ABDIG was in the best interest of FPT.
The combination between ABDIG and FPT would create a market leader managing more than USD 10B of subsea, IT and telecom assets worldwide. The new company would operate under the FPT brand with Samir Auedd as CEO.
Abu Dhabi Investment Group is a private investment firm founded in 2000 with over USD 36 billion of assets under management and offices in the Americas and EMEA. ABDIG´s investment platforms are across a wide range of asset classes, including private equity, growth venture and real estate. ABDIG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio.
Founded in 2015, Fiber Prime Telecommunications (FPT) is an One-Stop-Shop independent telecommunications carrier, with extensive experience, capable of delivering advanced “tailor-made” data networking solutions. FPT has direct presence in more than 15 countries and extensive network partnerships covering any location in the Americas and Europe, with expansion plans to extend capabilities to Asia. As a One-Stop-Shop carrier, FPT offers a seamless and integrated experience to supply the increasing demand globally, providing a full suite of products and services such as VPN, Carrier Ethernet, Colocation, Logistics, and Professional Services.