Stonepeak has acquired a 49 percent interest in Cellnex Nordics, the Swedish and Danish operations of Cellnex Telecom, which is Europe’s largest independent operator of wireless telecommunications infrastructure.
The total transaction amount was €730 million ($798 million), of which €558 million ($610 million) was recognized upfront.
Cellnex Nordics provides colocation services to mobile network operators for their wireless networking equipment. The network currently consists of 4,600 sites across Sweden and Denmark, with additional commitments and options to build and operate more than 2,400 additional sites in the region.
Going forward, Cellnex will continue to consolidate the results of its operations and manage the day-to-day business in consultation with Stonepeak. Cellnex will use the proceeds of this deal to reduce its debt.
“We are pleased to have completed this transaction, which represents a natural fit for our core infrastructure strate