Placing & Acquisition of Entanet Holdings Ltd

In July 2017, CityFibre Infrastructure Holdings plc completed a placing and offer for subscription to raise £200m to invest in its programme of expanding its fibre metro networks and bringing fibre to the home in various cities around the UK. Part of the proceeds were used to acquire Entanet Holdings Limited, a provider of wholesale communications services, for a consideration of £29 million in cash (on a cash free, debt free basis and subject to adjustments). BDO acted as reporting accountants on the placing and undertook financial due diligence on the acquisition of Entanet Holdings Limited.