Buy-side advisory

Advisor to Cellnex on the acquisition of Cignal

AZ Capital has advised Cellnex on the acquisition of 100% of the shares of Cignal.

Cignal is the leading independent telecommunications infrastructure operator in Ireland. It operates a total of 546 sites and plans to deploy up to a further 600 sites over the next 7 years.

The deal values the company at €210 MM, and an additional investment associated with a Build-to-Suit (BTS) program of €60 MM, to be deployed in the period 2020-2026.

With this transaction, Cellnex creates an initial platform in an adjacent market with the objective to become its consolidator.

The transaction will be financed through available cash and future cash flows from Cellnex Ireland.

Sector: Infrastructures