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New Deal


Announced

Completed

Morgan Stanley Infrastructure completed the acquisition of a 49.99% stake in Altice Portugal FTTH for $2.5bn.

Financials

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Transaction Value£1,899m
Consideration TypeCash, Contingent Deferred Consideration
Capital Owned-
Capital Bid For50%
EV/Sales5.6x
EV/EBITDA9.01x
Share Price Premium-
One Off Charge-

Tags

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FTTH infrastructure wholesale

Private Equity

Portugal

Acquisition

Friendly

Private

Single Bidder

Minority

Telecommunications infrastructure

Cross Border

Completed

Synopsis

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Morgan Stanley Infrastructure, a provider of investment advisory services, completed the acquisition of a 49.99% stake in Altice Portugal FTTH, a wholesaler of FFTH in Portugal, for $2.5bn. The sale marks the latest asset disposal carried out by Altice Europe as part of its plans to cut its debts. "I am very pleased that our partnership with Morgan Stanley Infrastructure Partners, initiated in the context of our Portuguese tower transaction in 2018, now continues with a transformational fiber project," Patrick Drahi, Altice Founder.

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