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Telefónica Finalises the Sale of 25 Data Centres for €600M
15 April 2019 – Expansión
The telecommunications giant Telefónica is expected to complete the sale of a portfolio of 25 data centres located in the USA, Europe and Latin America after Easter, as it continues its efforts to reduce its debt.
One of the best-positioned candidates in the bid to acquire the assets is Asterion Industrial Partners, a fund founded by Jesús Olmos, former Director of KKR, in November, which has already fought off competition from the infrastructure fund Brookfield, amongst others.
Two other investment vehicles have also reportedly expressed significant interest in acquiring the portfolio, namely, EQT and I-Squared Capital, as have two companies in the sector, the US firms Digital Realty and Equinix.
Of the portfolio of assets, eight centres are located in Spain, three in Brazil, three in Colombia, three in Ecuador, two in Peru, two in Chile, two in Argentina, one in Miami and one in Mexico.
With this new divestment, which is expected to generate proceeds of around €600 million, Telefónica will succeed in reducing its debt below €40 billion.
Original story: Expansión (by D.B., M.Á.P., I.C. and R.C.)
Translation/Summary: Carmel Drake