Asterion Industrial Partners, the Spanish infrastructure investment fund, and Telefonica (NYSE: TEF) agreed to sell Spanish data center operator Nabiax to European asset manager Aermont Capital, the companies said on Monday in a joint statement.
Nabiax owns two centers in Madrid and one in Barcelona with a combined installed power of 35 Megawatts. Asterion owns 80% of Nabiax and Telefonica owns the remaining 20%.
The companies did not disclose the transaction’s financial details, though people familiar with the matter told Reuters two weeks ago that Nabiax was worth around 1 billion euros ($1.07 billion).
The Artificial Intelligence boom has driven demand for data centers, leading to increased investment and deal activity.
Blackstone (NYSE: BX), Amazon (NASDAQ: AMZN), and Microsoft (NASDAQ: MSFT) have disclosed plans to invest several billion euros each in data centers in Spain.
Asterion formed Nabiax in 2019 through the acquisition of 11 data centers from Telefonica across Spain and Latin America. It sold its Latin American operations to British infrastructure fund Actis last year, with a view to focusing on its home market.
($1 = 0.9362 euros)
(Source: Reuters)
