Key Takeaways
- • The European Commission approved, under the EU Merger Regulation, the acquisition of joint control of Wyyerd Group Holdings, LLC (WGH) by Oak Hill Capital and The Carlyle Group.
- • The clearance signals a shift in control structure for Wyyerd, a high-speed fiber internet service provider, with Oak Hill and Carlyle sharing joint control rather than Carlyle holding sole control.
- • Carlyle had acquired a majority stake in Wyyerd in early 2021, according to a February FCC filing cited in press coverage.
- • Coverage describes the EU approval as received on a Wednesday, with a separate report noting the Commission's announcement on a Tuesday; source dates are inconsistent.
Summary
The European Commission has cleared the acquisition of joint control of Wyyerd Group Holdings, LLC (WGH) by Oak Hill Capital and The Carlyle Group, according to multiple reports. The Commission's decision was issued under the EU Merger Regulation, and press coverage characterized the clearance as a formal approval of the joint takeover. Reports differ on the announcement day, with some describing a Wednesday receipt of approval and another attributing the Commission statement to a Tuesday.
WGH is the holding company for the Wyyerd Group LLC, a group of companies engaged in constructing, deploying and operating high-speed fiber networks, according to the public version of the Commission's decision published on EUR-Lex. Carlyle had acquired a majority stake in Wyyerd in early 2021, based on a Federal Communications Commission filing from February cited in press coverage. The EU clearance reflects a move to joint control between Carlyle and Oak Hill rather than a sole-control arrangement.
A separate Wyyerd Fiber announcement, which described the Carlyle-backed operator as a leading fiber internet service provider, reported an expansion of its debt facility to $435 million. Coverage of a sale process for Carlyle-backed Wyyerd Fiber has also appeared, though the sources available do not provide transaction value, deal terms or the closing timeline for the Oak Hill transaction. Readers should treat specific financial terms of the stake transfer as unconfirmed in the material reviewed.
WGH is the holding company for the Wyyerd Group LLC, a group of companies engaged in constructing, deploying and operating high-speed fiber networks, according to the public version of the Commission's decision published on EUR-Lex. Carlyle had acquired a majority stake in Wyyerd in early 2021, based on a Federal Communications Commission filing from February cited in press coverage. The EU clearance reflects a move to joint control between Carlyle and Oak Hill rather than a sole-control arrangement.
A separate Wyyerd Fiber announcement, which described the Carlyle-backed operator as a leading fiber internet service provider, reported an expansion of its debt facility to $435 million. Coverage of a sale process for Carlyle-backed Wyyerd Fiber has also appeared, though the sources available do not provide transaction value, deal terms or the closing timeline for the Oak Hill transaction. Readers should treat specific financial terms of the stake transfer as unconfirmed in the material reviewed.
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