Global law firm Norton Rose Fulbright advised Airband Community Internet Limited (Airband) on the acquisition of a majority stake in Airband by Aberdeen Standard Investments (ASI).
On 27 November 2020, ASI entered into an agreement to invest in Airband alongside the existing shareholders, who will retain minority positions. The existing shareholders are the founders of Airband and the existing investor, National Digital Infrastructure Fund (NDIF), a fund managed by Amber Infrastructure Group.
The extra funding raised by Airband will be used in the company’s roll-out of Fibre-to-the-Premises based broadband services, with Airband aiming to cover more than 500,000 additional premises in the next 5 years.
Oliver Stacey, a London-based corporate partner who led on the deal, commented:
“This is an important investment for Airband as it accelerates the company’s expansion of full fibre broadband across underserved parts of the UK.”
The London corporate team also included senior associate Mark Maurice and associate Gillian Jaravaza.