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Thursday, May 16, 2024

Uria, KPMG steer Asterion´s €100m acquisition of Olivenet

Uria Menéndez and KPMG Abogados have advised Asterion Industrial Partners on its acquisition acquisition of Olivenet, a regional telecom provider that operates in Andalusia for €100 million

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Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, announced a partnership with Teras Capital for the development of a rural telecom fibre platform in Spain. Teras Capital is an investment boutique of seasoned telecom entrepreneurs who pioneered rural fibre consolidation in the Spanish market.

As part of the platform development, Asterion announced the acquisition of Olivenet, a regional telecom provider that operates in Andalusia, with presence in approximately 35 municipalities and more than 900,000 Homes Passed. With Olivenet as the first and anchor investment of the platform, Asterion is uniquely positioned to create a sizable and leading player in the Spanish rural fibre space, complementing its existing footprint with a unique opportunity to achieve more than 1.5m Homes Passed and close to 6,000 km of fibre network.

Olivenet is the fifth investment of Asterion Industrial Partners’ Fund II, in line with its geographic focus on Spain, Italy, UK, and France. Asterion will support Olivenet’s continued growth, facilitating internet access to rural communities in the south of Spain, which is a critical element for communication and education.

Guido Mitrani, founding partner at Asterion Industrial, commented: “We are extremely happy about the partnership with Teras Capital and are looking forward to continuing to invest in the rural fibre space, this time in the Spanish market. We are excited to support Olivenet’s growth journey and are especially proud that the rural telecom fibre platform we will be rolling out will benefit municipalities and households in rural areas, improving their access to critical digital infrastructure.”

Asterion Industrial Partners was advised by Uría Menéndez and KPMG Abogados.

Uría Menéndez advised with a team formed by a Corporate/Commercial team comprising partner Manuel Echenique, senior associate Guillermo del Río and associate Luis Núñez-Lagos, while KPMG advised with Deal Advisory, M&A, Tax partner María Pilar García Molinero.

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