Friday, May 24th, 2013
abertis, via its telecommunications subsidiary abertis telecom, has reached a preliminary agreement to acquire 100% of the network transport operator and audiovisual broadcasting company Axión.
The operation will cost €154 Mn and is subject to authorisation from the anti-trust authorities and abertis telecom’s acceptance of any conditions that the authorities may impose. Under the terms of the agreement, signed by abertis telecom with all Axión’s partners, the competition authorities must reach a decision by 31 December.
Axión has a total of 549 broadcasting and distribution sites, most in Andalusia, which chiefly serve the region’s TV channels and radio stations. Axión’s shareholder structure comprises TDF (65%), Sandetel (in which the Andalusia regional government holds an interest) with a 23% take, and savings banks Unicaja and Cajasol, with a total of 12%.
In its financial year ended 31 March 2010, Axión reported revenues of €36.4 Mn and EBITDA of €14.1 Mn. The company has no bank debt and abertis telecom plans to finance the acquisition with the credit lines arranged by the Group.
The deal will help abertis to meet the growing need to develop New Generation Infrastructure (NGI) to support the its new high-quality telecommunications and audiovisual services.
The company will be in a better position to develop new projects associated with DTT and its new applications, Tetra networks for security and emergency services and other value-added services in the sphere of audiovisual content distribution.