A consortium comprising Vauban Infrastructure Partners, EDF Invest and MEAG is acquiring Cellnex Telecom’s Austrian business for €803m.
Vauban’s Core Infrastructure Fund IV and Core Infrastructure Fund IV funds, EDF’s non-listed asset investment arm and MEAG, the asset manager of Munich Re and ERGO, have agreed to take over Cellnex Telecom’s Austrian infrastructure portfolio of telecommunications towers and infrastructure managed at 4.600 sites.
Cellnex Telecom entered the Austrian market in early 2021 following the acquisition of CK Hutchison’s local sites. This deal was part of a broader acquisition of CK Hutchison’s infrastructure assets in six European countries.
Marco Patuano, CEO of Cellnex, said the sale is one further step within the company’s “next chapter, in line with our strategy, to achieve the goal of consolidating, simplifying our corporate structure and focusing our efforts in the existing growth opportunities in the main markets in which we operate”.
Patuano added that the disposal of the Austrian arm allows Cellnex Telecom to move forward on “two other strategic objectives such as the focus on the balance sheet and shareholder remuneration, thus fulfilling our commitments to the market”.
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