Danish pension funds PKA, PFA and ATP are selling their 50% stake in local telecom operator TDC to fellow shareholder Macquarie Asset Management (MAM).
Macquarie said it has agreed to take full ownership of TDC on behalf of a consortium including its managed funds.
Financial details were not disclosed.
In 2018, , delisting it from the country鈥檚 stock exchange in a deal worth over $6bn (鈧�5.3bn) at the time.
Nathan Luckey, head of digital infrastructure for EMEA at Macquarie Asset Management, said: 鈥淒igital infrastructure and services play a critical role in improving connectivity, driving economic growth and competitiveness and TDC Group has been at the forefront of delivering this in Denmark.
鈥淲e would like to thank our co-shareholders for their partnership over the last seven years, and we are excited to further increase our stake to full ownership of TDC Group.鈥�
ATP, PKA and PFA said: 鈥淪ince we first invested in TDC in 2018, the digital landscape has significantly changed, from available digital solutions to mobile telephony, and even the TV and streaming market. This has required a transformation of TDC as a company.
鈥淭ogether with our co-shareholder Macquarie we have made a number of investments to support this evolution of the business. TDC has now entered a new chapter, as we pass the reins to Macquarie to lead the journey forward in the years to come.鈥�
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