AMP Capital has agreed to the sale of Spanish independent broadcasting and telecommunications infrastructure provider Axión.
AMP Capital will sell Axión to Asterion Industrial Partners, an independent investment management firm focusing on infrastructure investments in the European mid-market.
“We are proud of Axión’s performance since our acquisition,” said Phil Pacey, AMP Capital principal, asset management.
“We secured a solid business in a rapidly growing sector for our clients, and through our active business development approach we have guided the business onto its growth trajectory.”
AMP owned Axión on behalf of investors in its global infrastructure equity platform since 2016, a period over which the business has delivered 35 new build-to-suit towers and expanded into several new businesses segments.
“We are very excited about this investment which is highly complementary to our existing portfolio and is uniquely positioned for further investment and growth acceleration,” said Guido Mitrani, founding partner at Asterion.
“We look forward to working with its first-class management team, applying our industrial approach, to create an integrated telecommunications infrastructure platform, with a unique portfolio of towers enriched with wide-ranging backhaul capabilities and a superior fibre network.”