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“Focusing on the energy sector related core businesses, a divestment of non-core activities is one of the strategic Ignitis Group goals. The sale of DLC, which is one of the most attractive telecommunications companies in Lithuania and neighboring countries, was a competitive process which was noticed by a number of market players,” says Darius Kašauskas, chair of DLC’ Management Board and member of the Management Board of Ignitis Group as well as the director of the Finance and Treasury Office. 

QEIF II is a EUR 500 mln infrastructure fund managed by Quaero Capital, an independent asset management company. QEIF II invests across Europe in essential infrastructure projects in sectors such as energy & renewable, social infrastructure, telecom, utilities and transport. As a new shareholder, QEIF II will consolidate DLC business model, strengthen the company's financial resources and accelerate its development in the coming years. DLC has many resources to establish itself as a benchmark player in the digital economy in the Baltic countries and in Europe.

A sale-purchase agreement was signed on 8 June. Shares are expected to be transferred to QEIF II Development Holding Sàrl, a fully owned subsidiary of QEIF II in July, after the decision of the Coordination Commission for the Protection of Objects of National Security of the Republic of Lithuania on compliance with national security interests, and the extraordinary General Meeting of Shareholders of LITGRID, AB adopting the decision to consent to the sale of the DLC shares. The total value of the transaction is EUR 10.1 mln. 

DLC controls one of the most efficient data centres in the region, Data INN, whose design and facility was awarded by Tier III certification by Uptime Institute.

In cooperation with its partners, DLC also operates an international data transmission network – Baltic Highway. The network has a contiguous optical connection, linking Tallinn with Frankfurt and the biggest as well as the longest cross-Baltic optical data transmission network – Baltic Optical Network. The total length of the optical fiber network infrastructure DLC operates with its partners amounts to 13,000 km with a total throughput of 10 Tbit/s. 

TGS Baltic acted as a legal adviser to the sellers. SUMMA Advisers acted as a financial adviser and Ellex Valiunas as a legal adviser to the buyer.