GO advises Telefónica on deal with Asterion for the acquisition of 20% of Nabiax
Guerrero Olivos has represented Telefónica Chile in an agreement with Asterion to acquire 20% of Nabiax in exchange for the contribution of 4 Data Centres
Guerrero Olivos has advised Telefónica Infra in Chile, in the due diligence and in the negotiation and execution of an agreement with Asterion Industrial Partners for the contribution of four Data Centres, currently owned by the Telefónica Group in Spain and Chile, to Nabiax, provider of Colocation and Housing services and owner of the eleven Data Centres sold by Telefónica in 2019.
Telefónica Infra will receive a 20% stake in Nabiax, while the company’s current shareholder, Asterion and its co-investors, will retain the remaining 80% of the share capital.
This transaction, valued at $120 million US dollars, was signed in early May 2021 and is subject to regulatory approvals. It includes an agreement for the provision of accommodation services at the four CCs on terms and conditions equivalent to those set out in the transaction. The deal does not include the sale of the servers owned by Telefónica, nor the management of and access to the customers hosted on them.
Madrid firm Uría Menéndez advised Telefónica in conjunction with Guerrero Olivos, while Clifford Chance in Madrid, Barcelona, and London as well as Carey in Santiago de Chile acted as advisors to Nabiax.
Telefónica will be able to crystallise the value of its infrastructure assets, while preserving intact the company’s commercial positioning, customer relationships and leadership in cloud, hosting and housing services to corporate customers. In addition, Nabiax and Telefónica will continue to build on their existing business cooperation and explore new joint business opportunities, such as new services, edge computing and data centre automation.
Guerrero Olivos’ team was led by partner Jorge Delpiano (pictured left), assisted by partners José Gabriel Undurraga (pictured bottom right) and Sebastián Abogabir (pictured top right), senior associates César Gálvez, Sebastián Marambio and Tomás Rosemary and associate Maximiliano Reyes.
Uría Menéndez’s team included partners Rafael Núñez-Lagos de Miguel and Antonio Guerra, counsel David Lopez Velázquez and Alex Bircham and associates Adrián Lozano, Carla Alonso Cogollos, Andrea Sandi, Rachel Brown, Pablo Fernández, Miguel Ángel Buitrago and Alberto Pérez.
Telefónica’s in-house team in Madrid was supported by lawyers David Giner Garcia and Elimena Junquera Blanco, while the team in Chile was composed of lawyers Claudio Monasterio Rebolledo and Mercedes Carafi Uriarte.
Clifford Chance’s Spain team consisted of partner Javier Amantegui, advisors Carme Briera and Maria Begoña Barantes and associates Javier Olabarri, Regina Camacho, Lucía Herrero, Andrés Tirado, María de Arteche and María Sabau. London’s team included partner Georgia Demeure and associate Álvaro Cabaleiro.
Finally, Carey’s team was led by partner Jorge Ugarte, assisted by associates Alejandra Daroch, Manuel José Barros, Tomás Varela, Pamela Morales, Beatriz Holmgren, Francisca Hernández, Domingo Russi, Daniela Soto and Alicia Corbo.
