Latham & Watkins has advised TNG Group on the acquisition of sdt.net AG. The company has operated VDSL and fiber optic networks in Baden-Württemberg, Germany for more than 20 years. The transaction marks one of the first deals in the expected consolidation wave in the German fiber market.
The TNG Group, with assistance from its majority shareholder Intermediate Capital Group (ICG), has been active in the fiber market for more than 10 years. The company has already successfully equipped more than 100,000 households in northern Germany and Hesse with FTTH connections. The acquisition of sdt.net AG presents opportunities to drive the expansion of fiber optics with a potential of 150,000 FTTH connections in southern Germany.
The Latham team was led by Frankfurt partner Alexander Stefan Rieger and associates Joscha Müller and Pascal Wagenführ, with partner Leif Schrader, associates Sönke Bock and Lennart Werbeck, and Düsseldorf associate Florian Feistle. Advice was also provided on finance matters by Frankfurt partner Sibylle Münch, with associate Ralph Dräger; on employment matters by Munich counsel Florian Dehmel, with associate Martina Hölzer; on FDI matters by Hamburg counsel Jana Dammann de Chapto, with Frankfurt associate Nicolas Jung; and on tax matters by Munich partner Ulf Kieker, with associate Johannes Lieb.