Zayo said the separation will give each business the flexibility to take advantage of its own growth opportunities.
It will also simplify operations and align strategic and business objectives to drive long-term value for Zayo, its customers and the newly independent organization.
Zayo Europe already operates a near-autonomous and majority-owned fiber infrastructure network across eight Western European countries, specifically Ireland, the United Kingdom, the Netherlands, Belgium, France, Germany, Italy, and Switzerland. .
The company plans to establish staff locations in London, Paris, Stuttgart and Sofia.
The new business will be led by Colman Deegan, who was appointed CEO of Zayo Europe just three weeks ago.
Zayo and Zayo Europe will remain under the same ownership group and continue to provide network services worldwide. In 2020, Zayo was taken private by Digital Bridge and EQT Infrastructure in a $14.3 billion transaction that was completed in 2020.
However, once the separation is complete, a new board of directors will be established, with Jens Schulte Bockum, former CEO of Vodafone Germany and group COO of MTN Group, expected to become chairman.
Zayo Europe and its other businesses are expected to be fully legally separated by the end of June 2024.
Zayo's operations, which manage customers' global network needs outside of Zayo's core North American and European networks, will also be legally separated by this time.
The company has an independent management team and will continue to support the expansion of Zayo's international network of North American and European customers.
