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Cellnex Acquires Cignal in Ireland

Mna News - Published on Wed, 11 Sep 2019

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Cellnex has reached an agreement with InfraVia Capital Partners to acquire Cignal, the Irish based independent telecommunications Infrastructure operator for an EV of EUR 210 million. The company operates 546 sites in Ireland, which becomes the seventh country in which Cellnex operates in Europe. Cignal operates an attractive telecom sites portfolio with a current customer ratio of c.2x, and featured by its limited overlap with third party sites, enhancing their commercial appeal. It has significantly expanded its portfolio since it was founded following the acquisition of 300 tower locations in 2015.

Contracts with clients have an average duration of 20 years. Cignal also will roll out up to 600 new additional sites by 2026, with a further investment of approximately €60 million as a follow on to this transaction.

Once the new Build to Suit programme is fully rolled out, it is estimated that additional EBITDA of around EUR 20 million will be generated for the Group. The acquisition and future investment will be financed through available cash and future cash flows from Cellnex Ireland.

Mr Tobias Martínez CEO of Cellnex said that “With Cignal, we are not only integrating the leading independent telecommunications infrastructure operator in Ireland with a professional and experienced management team; we are also committing to consistent growth in Europe, incorporating a seventh market which naturally extends the current geographical coverage of the six countries in which we already operate and in which we will work with customers to whom we already offer service in other countries, thereby strengthening our long-term collaborative relationship."

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Posted By : TelecomGuru on Wed, 11 Sep 2019
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