Altice Europe and KKR, a global investment firm, have announced the creation of Hivory, the largest independent telecoms tower company in France and third largest European tower company, the companies said.
The creation of Hivory follows the successful completion of the transaction announced in June, of KKR´s acquisition of a 49.99% stake in a portfolio of more than 10,000 of Altice´s French towers.
Hivory is a high-quality telecoms infrastructure provider with a nationwide presence, benefiting from more than 10,000 strategically located sites with a diversified portfolio of ground-based towers and rooftops. The company is focused on serving the growing infrastructure needs for mobile operators to provide connectivity to all parts of the French population, meeting continued strong demand for data consumption and increased coverage.
Through Hivory, Altice and KKR will proactively seek to partner with all mobile operators to develop their coverage and densification objectives in France, through the build-to-suit of new towers and facilitating colocation needs in the French mobile market.
Altice Europe (ATC & ATCB), listed on Euronext Amsterdam, is a convergent provider of telecoms, content, media, entertainment and advertising.
KKR is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business.