Stonepeak Infrastructure has agreed to acquire Lumen Technologies’ Latin American business for $2.7 billion.
Following the transaction, the Latin American business will operate as an independent, U.S.-headquartered portfolio company of Stonepeak. Lumen’s current president for the region will remain in place, and the company will retain a strategic relationship with the New LATAM Company.
Lumen also will continue to serve customers in North America, EMEA and Asia Pacific with needs in Latin America through its strategic partnership with the new company. This relationship includes reciprocal reselling and network arrangements that leverage each other's extensive fiber footprints, data centers and other network assets.
“This transaction unlocks value for our shareholders while allowing us to maintain our global presence through our strategic relationship with the New LATAM Company,” said Jeff Storey, president and CEO of Lumen. “This transaction allows Lu
