Status:  Upcoming/New Filing

Acquirer:  Affiliates of EQT Infrastructure (Sweden)

Acquired:  Lumos Networks Corp. (US)

Value:  US$950 million

Industry:  Telecommunications

iStock_000038124684_LargeOn February 20, 2017, Lumos Networks Corp., a leading fiber-based service provider in the Mid-Atlantic region, announced that it has entered into a definitive agreement to be acquired by an investment fund affiliated with EQT Infrastructure, a Swedish based investment firm, for approximately US$950 million. (See Joint Press Release, Lumos Networks Enters into Definitive Agreement to be Acquired by EQT Infrastructure, Feb. 20, 2017;  EQT Infrastructure Press Release, EQT Infrastructure enters into definite agreement to acquire Lumos Network, Feb. 20, 2017 (“[a]ffiliates of the EQT Infrastructure investment strategy have entered into a definitive agreement to acquire Lumos Networks”); and Lumos Networks Form 8-K, Feb. 20, 2017, SEC Filing.)   According to Lumos Networks’ SEC filings, it will be merged into MTN Infrastructure BidCo, Inc., surviving as a wholly owned subsidiary of MTN Infrastructure TopCo., Inc., a Delaware corporation and “subsidiar[y] of an investment fund advised by EQT Partners Inc., a Swedish-based private equity firm.”  (Lumos Networks Form 8-K, Feb. 20, 2017, SEC Filing.)  “Consummation of the Merger . . . is subject to customary closing conditions, including . . . consents of the Federal Communications Commission (including any review by the Team Telecom Agencies), [and] approval of the interagency Committee on Foreign Investment in the United States (CFIUS) …” (Id.).  Lumos Networks expects the transactions to close in the third quarter of 2017. (see id.)


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