(Reuters) – Spanish infrastructure investment fund Asterion Industrial Partners and Telefónica (NYSE:) have agreed to sell Spanish data center operator Nabiax to European asset manager Aermont Capital, the companies said on Monday (NASDAQ:) in a joint statement.
Nabiax has two centers in Madrid and one in Barcelona with a combined installed power of 35 Megawatts. Asterion owns 80% of Nabiax and Telefónica owns the remaining 20%.
The companies did not disclose financial details of the transaction, although people familiar with the matter told Reuters two weeks ago that Nabiax was worth about 1 billion euros ($1.07 billion).
The rise of artificial intelligence has driven demand for data centers, leading to an increase in investment and commercial activity.
Blackstone (NYSE:), amazon (NASDAQ:) and Microsoft (NASDAQ:) have revealed plans to invest several billion euros each in data centers in Spain.
Asterion formed Nabiax in 2019 by acquiring 11 Telefónica data centers in Spain and Latin America. It sold its Latin American operations to British infrastructure fund Actis last year, with a view to focusing on its home market.
(1 dollar = 0.9362 euros)
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