lyntia Networks
Liberty advises the management team of lyntia Networks on its acquisition by AXA IM Alts and Swiss Life Asset Managers
AXA IM Alts, a global leader in alternative investments, acting on behalf of clients, and Swiss Life Asset Managers announce that in a new joint venture they have agreed to the acquisition of leading Spanish fibre business lyntia Networks from Antin Infrastructure Partners.
lyntia Networks is a leading wholesale operator in the Spanish telecommunications market and the only neutral provider operating both lit and dark fibre, where it is the market leader. It owns and operates a high quality nationwide fibre network of over 43,000 km built primarily alongside electric power and gas distribution infrastructure and is one of the largest providers of neutral connectivity to large customers in Spain, with revenues underpinned by long term contracts to blue chip companies. It offers long-haul access, connecting c. 2,700 metropolitan and underserved small-to-medium sized towns, as well as coastal areas, resulting in limited competition over the footprint.
Antin Infrastructure Partners will continue to own and operate the lyntia Access business which provides wholesale Fibre to the Home (‘FTTH’) connectivity to residential properties.
Following this transaction, José Antonio López, will continue as CEO of lyntia Networks, while Eduardo Taulet will remain with Antin as CEO of lyntia Access.
José Antonio López, CEO of lyntia Networks, commented “The engagement and advice through the whole process from Dan and Alvaro with the support of Mick was fundamental to make the right decisions and reach a long-term relationship agreement with our new shareholders AXA IM Alts and Swiss Life Asset Managers. We look forward to working together on this new phase of value creation in lyntia Networks. It was not an easy decision for management, as Liberty was not involved in the transaction some years back between Cinven and Antin Infrastructure Partners and even with this extra challenge the outcome has been really positive and has set the foundation of a strong and long-standing partnership between the management team and Liberty.”
The transaction is subject to customary regulatory approvals and is expected to close by the end of the year.
The engagement and advice through the whole process from Dan and Alvaro with the support of Mick was fundamental to make the right decisions and reach a long-term relationship agreement with our new shareholders AXA IM Alts and Swiss Life Asset Managers.
José Antonio López
CEO of lyntia Networks
It has been a pleasure working with Jose Antonio and his team on this landmark transaction. The value creation delivered by Jose Antonio and the rest of the team at lyntia Networks has been exceptional and we look forward to seeing their continued growth over the coming years.
Álvaro Rubio
Head of Spain
+34 620 376457
alvaro.rubio@libertycf.es