Asterion and Telefonica to Sell Nabiax

(Reuters) – Spanish infrastructure investment fund Asterion Industrial Partners and Telefonica (NYSE:TEF) agreed to sell Spanish data centre operator Nabiax to European asset manager Aermont Capital, the companies said on Monday (NASDAQ:MNDY) in a joint statement.

Nabiax owns two centres in Madrid and one in Barcelona, with a combined installed power of 35 Megawatts. Asterion holds 80% of Nabiax, while Telefonica owns the remaining 20%.

While the companies did not disclose the transaction's financial details, sources familiar with the matter informed Reuters two weeks ago that Nabiax was valued at approximately 1 billion euros ($1.07 billion).

The artificial intelligence boom has driven demand for data centres, resulting in increased investment and deal activity. Major companies like Blackstone (NYSE:BX), Amazon (NASDAQ:AMZN), and Microsoft (NASDAQ:MSFT) have revealed plans to invest several billion euros each in data centres in Spain.

Asterion formed Nabiax in 2019 by acquiring 11 data centres from Telefonica across Spain and Latin America. Last year, it sold its Latin American operations to British infrastructure fund Actis, focusing on its home market.

($1 = 0.9362 euros)