Case Study

Financial Reporting for Purchase of Fibre Network Company


When Stonepeak Infrastructure Partners acquired euNetworks in 2017, IFRS 3 accounting regulations stipulate that a purchase price allocation be performed.

The capital assets comprised a pan-European owned and IRU capacity back-bone and metro fibre network and several datacentres.


euNetworks owns and operates dense fibre based metropolitan networks in 14 cites, connected by an intercity backbone covering 49 cities in 15 countries. These networks directly connect into over 300 data centres and more than 1,300 further cell towers, cable landing stations and enterprise buildings.

Based on extensive research and analysis of current and historic construction cost data income and financial reporting information, a valuation was performed by applying accepted DRC and income approaches.

Our valuation was reviewed and accepted by the companies auditors.


In line with accounting regulations the tangible assets were accurately incorporated into the opening balance sheet at Fair value. Our work re-set the remaining useful lives of many assets enabling them to be accurately amortised.


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