Cellnex sells Austria business for €803m
December 20, 2024
Cellnex Telecom has completed the sale of its Austrian business operations, first announced in August.
A consortium comprising Vauban Infrastructure Partners, through Vauban’s Funds, EDF Invest, the investment arm in non-listed assets of EDF Group and MEAG, the asset manager of Munich Re and ERGO, have closed the deal whereby the consortium has acquired 100 per cent of Cellnex’s business in Austria for €803 million.
Cellnex has been operating in Austria since early 2021, when it finalised the acquisition of CK Hutchison’s sites in the country as part of the agreement to acquire CK Hutchison’s infrastructure portfolio in six European countries, including Austria. Cellnex currently manages around 4,600 sites in the Alpine country.
Marco Patuano, CEO of Cellnex, commented: “The closing of the sale of our Austrian business will allow us to further consolidate, simplify and focus our efforts on growth opportunities in the main markets in which we operate, as well as on the balance sheet and the acceleration of shareholder remuneration, thus fulfilling our commitments to the market.”
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