Proximus Group has signed a binding agreement to sell 100 percent of Proximus Luxembourg Infrastructure (PLI) to InfraRed Capital Partners (InfraRed) for EUR 108 million, including cash on the balance sheet. The sale includes 267 mobile tower assets in Luxembourg, marking a key step in Proximus' divestment strategy to optimise its asset base and reinvest in growth areas, the company announced on Friday.
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Proximus Sells PLI to InfraRed
PLI is the first independent TowerCo entity in Luxembourg and manages 267 mobile tower assets. InfraRed, a global infrastructure asset manager with over 25 years of experience, will manage the assets through its European Infrastructure Income Fund 4 (EIIF4). Proximus Luxembourg, operating under the Tango and Proximus NXT brands, will remain a long-term anchor tenant on the sites, ensuring uninterrupted mobile services for its customers.
This divestment of mobile tower infrastructure in Luxembourg contributes over 50 percent of Proximus' EUR 500 million divestment target by 2027. Proximus noted that the proceeds from the sale will support its initiatives, including fiber roll-out. The closing of this transaction is expected in Q1 2025, pending regulatory approval.
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Datacenter Business Sold to Datacenter United
The sale of mobile tower infrastructure in Luxembourg follows Proximus' announcement in October, where Proximus agreed to sell its data center business to Datacenter United, a Belgium-based provider, as part of its EUR 500 million asset divestment strategy. The transaction includes datacenter infrastructure in Evere, Mechelen, and Machelen, along with Proximus-owned real estate and customer contracts. Together, these datacenters delivered a total capacity of approximately 11 MW, serving both Proximus' internal IT applications and B2B housing and hosting services for enterprise customers.
Long-Term Agreements with Datacenter United
Datacenter United, founded in 2010, operates 9 datacenters in Belgium and will leverage its expertise in operating large-scale datacenter infrastructure. Following the deal, Proximus will enter a 10-year agreement for continued datacenter services and leasing office space in Evere and Mechelen.
The move supports Proximus' hybrid cloud strategy and allows it to focus more on integrated IT services, working with local partners like Datacenter United to enhance service offerings with AI, security, and managed services, Proximus said at the time of the announcement.
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The sale of the datacenter business is for an enterprise value of EUR 128 million, according to the company. Completion is expected by Q1 2025, pending regulatory approval and employee transfer agreements.
