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Clifford Chance advises Cellnex Telecom on the sale of its business in Austria

14 August 2024

Clifford Chance advises Cellnex Telecom on the sale of its business in Austria

Clifford Chance has advised Europe's largest operator of telecommunications towers and infrastructure Cellnex Telecom on the sale to a consortium comprising Vauban, EDF Invest and MEAG of 100% of Cellnex's business in Austria for EUR 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 approx. 4,600 sites in the Alpine country.

The closing of the deal is subject to the corresponding regulatory approvals. This transaction will allow Cellnex to continue its announced deleveraging process and will allow to reassess its capital allocation priorities.

This is a landmark transaction in the telecommunications sector in Spain and Europe. Clifford Chance acts as the main legal advisor to Cellnex Telecom on an ongoing basis, advising on number of multijurisdictional, significant matters such as the aforementioned acquisition of CK Hutchison's telecommunications sites in six European countries for approx. EUR 10 billion.

The cross-practice Clifford Chance team was led by Corporate / M&A partner Guillermo Guardia, together with senior associate José María Vilaseca and associate Estel Casas. The team was also formed by IP/IT counsel Juan Cuerva and Global Financial Markets counsel Felipe Font. Counsel Begoña Barrantes and associate Paula Valenciano advised on antitrust matters.

Wolf Theiss acted as local counsel to Cellnex, with a team led by Corporate / M&A partner Sarah Wared.

Clifford Chance asesora a Cellnex Telecom en la venta de su negocio en Austria

Clifford Chance ha asesorado a Cellnex Telecom, el mayor operador europeo de torres e infraestructuras de telecomunicaciones, en la venta de su negocio en Austria a un consorcio compuesto por Vauban, EDF Invest y MEAG por 803 millones de euros.

Cellnex ha operado en Austria desde principios de 2021, cuando finalizó la adquisición de los activos de CK Hutchison en dicho país como parte del acuerdo para adquirir la cartera de infraestructuras de CK Hutchison en seis países europeos, incluyendo Austria. Actualmente, Cellnex gestiona aproximadamente 4,600 torres en el país alpino.

El cierre del acuerdo está sujeto a las correspondientes aprobaciones regulatorias. Esta transacción permitirá a Cellnex continuar con su anunciado proceso de desapalancamiento y reevaluar sus prioridades de asignación de capital.

El equipo multidisciplinar de Clifford Chance estuvo liderado por el socio de Corporate / M&A Guillermo Guardia, junto con el asociado senior José María Vilaseca y la asociada Estel Casas. El equipo también estuvo formado por el counsel Juan Cuerva, del área de IP/IT y el counsel de Global Financial Markets Felipe Font. En materia de Antitrust asesoraron en la operación la counsel Begoña Barrantes y la asociada Paula Valenciano.

Wolf Theiss actuó como asesor local de Cellnex, con un equipo liderado por la socia de Corporate / M&A Sarah Wared.