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TRANSACTION December 2018

Marguerite Invests in Ellalink Submarine

Marguerite has agreed to fund the Ellalink submarine telecom cable

Marguerite II, a pan-European infrastructure fund has agreed to invest in Ellalink submarine telecom cable system.

The supply contract for the EllaLink submarine cable system with Alcatel Submarine Networks came into force on 31 December 2018 and Alcatel will now start construction.  Scheduled for operation in late 2020, the EllaLink system is a state-of-the-art submarine cable of up to 4 fiber pair designed to meet the growing demand for traffic between Europe and Latin America under a carrier neutral and open access basis.

Linking Data Centers in Madrid, Lisbon, Marseille, Fortaleza and São Paulo, EllaLink will provide express subsea connectivity and offer the first direct fiber pair between Europe and Latin America.

Marguerite II joined the project in May 2018 working with the Ellalink team to finalise the development phase. Marguerite II will be the sole equity provider. Other sources of funding include pre-payments by anchor customers, and debt funding, covering total project cost of EUR 150m.

Pöyry Capital acted as sole M&A adviser to Marguerite.