Read this article to learn:
- Why Cellnex chose to invest in the Dutch tower market
- Why the sale made sense for Protelindo
- What Cellnex is buying
- Who owns the towers in The Netherlands, and the proportion of GBTs compared to other PoSs
- Opportunities in small cells and DAS in The Netherlands
Cellnex will acquire 100% of the share capital in Protelindo’s 261 tower Dutch business for €109mn (EV on a cash, debt-free basis). The valuation is in the 15-16x range, based on an expected EBITDA of €8mn in 2017, generating recurrent free cash flow at a 90% ratio. The deal is expected to close within two…
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