Telefonica expects to complete the sale of its data centres after Easter, after receiving binding offers a week and a half ago, reports newspaper Expansion. Asterion Industrial Partners, an investment fund founded by former KKR director Jesus Olmos, is considered well-placed to win the deal, according to the paper's sources, while other candidates include EQT, I-Squared Capital, Digital Realty and Equinix.
A deal is expected to be agreed within a few weeks, sources familiar with the process said. Telefonica declined to comment.
The Spanish operator confirmed in February that it was looking to sell the 25 data centres based in Europe, the US and Latin America, as part of its efforts to reduce debt. The portfolio includes eight centres in Spain, three in Brazil, three in Colombia, three in Ecuador, two in Peru, two in Chile, two in Argentina, one in Miami and another in Mexico. The divestment could reduce its debt to less than EUR 40 billion.
The Asterion fund was formed last year and already made its first investment in the energy services provider Proxiserve. Olmos already worked with Telefonica when he was at KKR, which bought a 40 percent stake in the company's international carrier Telxius. Telefonica's former strategy director Sebastian Urban-Munoz also works at Asterion.
