This share sale 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.
QEIF II is a EUR 500 million 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.
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 a collaborative partnership, DLC also operates Baltic Highway – an international data transmission network. Which 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.