Edition:
India

Cellnex Telecom To Acquire Arqiva’S Telecom Sites Portfolio


Tuesday, 8 Oct 2019 

Oct 8 (Reuters) - Cellnex Telecom SA ::SENDS PRESENTATION OF THE AGREEMENT TO ACQUIRE ARQIVA’S TELECOM SITES PORTFOLIO.IS ACQUIRING 100% OF THE SHARE CAPITAL OF A COMPANY RESULTING FROM A CARVE-OUT PROCESS FROM ARQIVA, CONSISTING OF C.8,300 TELECOM SITES.CONSIDERATION OF ABOUT 2.0 BILLION POUNDS PAYABLE UPON COMPLETION.MAJORITY OF CONTRACTS WITH CLIENTS LINKED TO CPI/RPI, WITH AN AVERAGE DURATION OF C.10 YEARS.SEES ADJUSTED EBITDA OF ABOUT 170 MLN POUNDS AND RLFCF OF ABOUT 105 MLN POUNDS IN 2020.CLOSING EXPECTED IN H2 2020.TRANSACTION TO BE FINANCED THROUGH A COMBINATION OF A 2 BILLION POUNDS SYNDICATED LOAN FACILITY AND AVAILABLE CASH RESERVES.APPROVED LAUNCH OF A FULLY-UNDERWRITTEN EUR 2.5 BILLION RIGHTS ISSUE, TO SUPPORT THIS ACQUISITION AND CELLNEX’S BUSY PIPELINE.DEAL INVOLVES CONCESSIONS TO USE STREET INFRASTRUCTURE AS LOCATIONS FOR TELECOM SITES IN 14 LONDON BOROUGHS.