Buy-side advisory

Financial advisor to Cellnex on the acquisition of Arqiva's telecommunications division

AZ Capital has advised Cellnex on the acquisition of Arqiva’s telecommunications division for a total consideration of £2,000 MM (€2,240 MM).

The transaction involves the acquisition of c. 7,400 owned sites and the rights to market c. 900 additional sites, all of them spread across the UK. As a result, Cellnex will become the largest independent operator of wireless infrastructure in the UK.

The transaction is expected to be funded through a combination of a £2 Bn syndicated loan facility and available cash reserves. In addition, Cellnex has approved the launch of a fully underwritten €2,5 Bn Rights Issue to support this acquisition and Cellnex’s pipeline.

Sector: Infrastructures