French fund manager Antin Infrastructure Partners has acquired Axión – Spain’s second-largest operator of terrestrial broadcast infrastructure – from French terrestrial network operator TDF for an undisclosed amount.
Axión operates 575 Digital Terrestrial Television (DTT) and radio broadcasting sites as well as telecom antennas hosting, TDF said in a statement. About 70 percent of those sites are located in Andalucia, a region in the south of Spain. TDF was Axión’s controlling shareholder, but the firm’s other shareholders – Sandetel, Unicaja and Banca Cívica/Cajasol – also sold down their stakes in the company to Antin.
While transaction details were not revealed, Spanish newspaper Expansion reported that Catalan developer Abertis sought to buy Axión last year for €154 million, in a deal ultimately scuppered by Spain’s competition authorities. The newspaper describes Abertis as Spain’s premier audiovisual signal operator.
Goldman Sachs International provided financial advice to TDF with Ashurst offering legal counsel.