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Telefonica To Sell Portfolio Of 11 Data Centers For EUR 550 Mln - Quick Facts

Telefonica SA (TDE.L,TEF) said Wednesday that it has agreed to sell a portfolio of 11 data centers located in seven jurisdictions (Spain, Brazil, USA, Mexico, Peru, Chile and Argentina) to a company controlled by Asterion Industrial Partners SGEIC for a total amount of 550 million euros.

The sale agreement includes the signing of a contract for the provision of housing services to the Telefónica Group. This will guarantee that Telefónica will continue to provide services to its clients in those data centers with the same quality and the same conditions.

Telefonica said the closing of the transaction will take place in about two months, except for four data centers where the effective transfer is subject to several authorizations and administrative procedures.

This transaction is part of the Telefónica Group's asset portfolio management policy based on a strategy of value creation, improving return on capital and strategic positioning. It also complements the company's objective to reduce organic debt and strengthen the balance sheet in a growing cash flow scenario.

The company expects the transaction to generate capital gains before taxes and non-controlling interests of around 260 million euros.

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