European telecommunications firm Cellnex is selling its French data centre business to Vauban Infrastructure Partners for €391m.
Cellnex France has agreed to sell Towerlink France to Vauban Infra Fibre (VIF), France’s largest independent digital infrastructure platform.
Established in 2018, Towerlink operates and develops urban edge data centres throughout France. The platform includes multiple operational sites, providing a nationwide footprint close to end customers.
VIF is a French digital infrastructure company managed by funds from Vauban Infrastructure Partners, entities of Crédit Agricole Assurances and Raffles, an affiliate of Singapore sovereign wealth fund GIC.
Steve Ledoux, CEO of VIF, said: “VIF is pleased to negotiate this investment in line with our investment strategy. Towerlink would thrive within VIF by continuing to deliver our common ambition and accelerate our development in the data centre market and by implementing attractive synergies with other French data centres and digital assets of the portfolio.”
Gwenola Chambon, founding partner of Vauban Infrastructure Partners, said: “VIF’s proposed investment in Towerlink confirms our strong commitment to finance infrastructure assets that are essential to the development of local communities, alongside with our historical partners.”
Cellnex said the proposed, all-cash transaction aligns with its strategic plan, allowing the group to focus on its core areas of activity including, telecom tower infrastructure, small cells and broadcasting services.
Marco Patuano, CEO of Cellnex, said: “We remain committed to operational excellence and disciplined capital allocation, always with the objective of delivering sustainable growth and long-term value for our shareholders.”
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