Cellnex Sweden and Denmark minority acquisition
Stonepeak →Stonepeak completed its acquisition of a 49% interest in Cellnex's Swedish and Danish operations on 30 November 2023. Total transaction value was approximately EUR730 million, of which EUR558 million was recognized upfront. Cellnex retained control, continued consolidating the businesses and maintained day-to-day management in consultation with Stonepeak. The network had approximately 4,600 sites at closing and commitments or options for more than 2,400 additional locations. The proceeds supported Cellnex debt reduction and its investment-grade rating objective. Stonepeak described the investment as part of its core infrastructure strategy. Nomura and Guggenheim advised Stonepeak, with Herbert Smith Freehills providing legal counsel; AZ Capital and Baker McKenzie advised Cellnex.