Spanish tower operator, Cellnex, has agreed to sell its Austrian business to an investor consortium for EUR 803 million, marking its exit from the market after three years.
Cellnex has been active in Austria since early 2021, following its acquisition of CK Hutchison’s Austrian sites as part of a broader deal to acquire CK Hutchison’s infrastructure assets across six European countries. The company currently manages around 4,600 sites in Austria.
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Cellnex announced that the group of investors purchasing its Austrian business includes Vauban Infrastructure Partners, EDF Invest, and MEAG. Deutsche Bank and Mediobanca are serving as financial advisors for the transaction.
Cellnex CEO, Marco Patuano, emphasized that the sale of their Austrian business represents a key step in the company’s “next chapter.” This move forms part of their broader goal to consolidate and simplify their corporate structure while concentrating on growth opportunities in their primary markets.
Patuano also noted that the sale will help the company advance towards two additional strategic objectives: focusing on the balance sheet and enhancing shareholder remuneration, thereby meeting the company’s market commitments.
The deal is contingent on obtaining the necessary regulatory approvals. Upon completion, it will enable Cellnex to advance its deleveraging efforts, as outlined during its recent Capital Markets Day. Following the closure, the company will re-evaluate its capital allocation priorities.
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