Spain's Cellnex acquires Shere Group for EUR 393 million

Nieuws Mobiel Nederland 30 SEP 2016
Spain's Cellnex acquires Shere Group for EUR 393 million

Spanish infrastructure operator Cellnex Telecom has announced an agreement with UK-based Arcus Infrastructure Partners to acquire 100 percent of Shere Group and its portfolio of 1,004 communications towers and wireless sites in the Netherlands and the UK for EUR 393 million. The transaction marks the Spanish company’s entry into the UK market and an expansion of its Dutch presence following its acquisition of Protelindo Netherlands earlier this year.

In a statement, Cellnex said the 464 sites that Shere operates in the Netherlands are spread evenly throughout the country and have a tenancy ratio of 2.7x, while the 540 sites located in the UK are mainly in England and Wales, with a tenancy ratio of 1.6x. The company added that the acquisition serves to further diversify its geographical base, with 40 percent of its revenue now coming from outside Spain.

Cellnex now has a total portfolio of over 16,600 sites in Italy, Spain, France, the Netherlands and the UK. It reported revenues of EUR 338 million in the first half of 2016, up 18 percent on the year-earlier result, and a 16.5 percent increase in EBITDA to EUR 134 million.

Categories:

Mobiel

Companies:

Protelindo,  Cellnex

Countries:

Nederland,  Verenigd Koninkrijk

Tags:

Production planning & operations, Network equipment, Wholesale, M&A buyouts & divestments

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