Cellnex Telecom reaches an agreement with InfraVia Capital Partners for the procurement of Irish telecommunications tower and site operator Cignal for €210m, an amount to be funded from the firm's cash on hand and future cash flows in Ireland.
Ireland currently has a fleet of 4,500 telecommunications sites of which approximately 60% are controlled by mobile operators, while the remaining 40% are managed by up to eight different telecommunications tower operators.
Operators including Cignal, which was recently acquired by Cellnex Telecom, an operator currently operating 546 sites in the country, which is now Cellnex's seventh in Europe.
The operation is valued at 210M€ and agreed with InfraVia Capital Partners.
It is worth mentioning that, in addition to the initial investment, the agreement also covers 60 million more for the construction of up to 600 sites more between 2020 and 2026.
Cellnex has a clear strategy of international expansion and, in addition to Ireland, is active in Spain, Italy, the Netherlands, France, Switzerland and the United Kingdom.
In these first nine months of 2019, it has reached various growth agreements that will lead it to expand its portfolio of assets in the European countries in which the company is present by nearly 16,000 once closed.
Its key shareholders include ConnecT with a share of 29,9 %, as well as CriteriaCaixa, Blackrock, Wellington Management Group and Canada Pension Plan with minority stakes.
The company closed the first half of 2019 with no profit, which was an improvement on the 31 million loss recorded in the same period of 2018, while its revenues increased 11 1Q1% to €489 million.
Cignalbased in Dublin, is a company dedicated to the development and management of telecommunications sites and fibre installations.
The Irish company manages a portfolio of sites with a current customer to site ratio of approximately 2x and operates under two business units:
In addition, key areas of focus are Telecommunications and Collaboration, Networking, Wireless, Office Supplies, Printing, Labelling and Software solutions.
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