Asterion Sells Nabiax Data Center to Aermont Capital

Spanish infrastructure investment fund Asterion Industrial Partners and Telefónica, listed on the New York Stock Exchange with the ticker NYSE:TEF, announced on Monday that they have reached an agreement to sell the Spanish data center operator Nabiax to European asset manager Aermont Capital.

Nabiax, of which 80% is owned by Asterion and 20% by Telefónica, operates two data centers in Madrid and one in Barcelona, with a total installed power capacity of 35 Megawatts.

While the financial details of the transaction were not disclosed, sources familiar with the matter noted two weeks ago that Nabiax's valuation could be around 1 billion euros, equivalent to approximately 1.07 billion dollars at current exchange rates.

This sale occurs in a booming data center market fueled by increasing demand for artificial intelligence capabilities. This demand has triggered a wave of investments and intensive deal-making in the sector.

Leading players in the industry, such as Blackstone, listed on NYSE with ticker NYSE:BX, Amazon, listed on NASDAQ as NASDAQ:AMZN, and Microsoft, also trading on NASDAQ as NASDAQ:MSFT, have recently announced plans to invest billions of euros in developing data center infrastructure in Spain.

Asterion established Nabiax in 2019 by acquiring 11 data centers in Spain and Latin America from Telefónica. Last year, Asterion shifted its focus to the Spanish market by selling its Latin American data center operations to British infrastructure fund Actis. This strategic move aligns with the company's intention to concentrate on its core regional market.