Telefónica sells 4 data centers in Chile, Spain

Spanish telecoms company Telefónica has offloaded four of its data centers, two in Chile and two in Spain, to Nabiax, which is owned by Asterion Industrial Partners.

Posted Thursday, October 21st 2021
Telefónica sells 4 data centers in Chile, Spain

Telefónica, Nabiax

Nabiax is the service provider and owner of the eleven data centers sold by Telefónica in 2019.

As a result of this latest transaction, Telefónica Infra will receive a 20% stake in Nabiax, establishing an important strategic partnership with the company’s current shareholder, Asterion, and its coinvestors, which retain the remaining 80% of the share capital, according to a Telefónica press release.

The transaction includes an agreement for housing services in the four data centers  under equivalent terms and conditions as those established in the prior transaction, with an initial term of 10 years.

The transaction does not include the sale of servers owned by Telefónica, nor the management and access to customers hosted on them.

Telefónica will therefore continue to provide and manage the services that it has been offering to its customers from these data centers, and will maintain its direct relationship with such customers.

“The agreement allows Telefónica to crystallize the value of its infrastructure assets, while preserving intact Telefónica’s commercial positioning, client relationships and leadership in cloud, hosting and housing services provided to corporate customers,” the company said.

Additionally, through the 20% stake that Telefónica Infra will hold in Nabiax, Telefónica retains exposure to a global data center platform with attractive growth prospects participating in the company's value upside. Nabiax and Telefónica will continue developing their existing commercial cooperation and will explore new joint business opportunities, such as new services, edge computing and data centre automation.

Law firm Philippi Prietocarrizosa Ferrero DU & Uría (PPU) in Peru acted as counsel to Telefónica in the due diligence of Digital Holdings Peru, a subsidiary of Digital Data Centre BidCo – Nabiax, which is controlled by Asterion Industrial Partners

PPU’s team was led by partner Rafael Boisset and principal associate Raúl Vizcarra.