Cellnex has reached an agreement with the American investment firm Stonepeak for the sale of a 49% stake in its Swedish and Danish subsidiaries for an amount of 730 million euros, as announced this Friday by the company to the National Securities Market Commission (CNMV).
The group anticipates that the closing of the operation will take place in the first quarter of 2024 “at the latest”, subject to the usual regulatory approvals, according to the statement. Europa Press.
Cellnex will allocate the income obtained through this operation to reduce debt, in line with the objectives set in November 2022 focused on organic growth and achievement of investment grade by S&P.
“This agreement, along with other strategic options for our asset portfolio that may be analyzed, will help Cellnex to crystallize value and accelerate the deleveraging plan,” the company stressed.
The operation has been well received by the market and the company’s securities are recorded increases above 4% in Cellnex’s best day on the stock market since February.