The transaction was concluded by Digi Spain subsidiary with Aberdeen Standard Core Infrastructure III SC Sp., a fund managed by abrdn, currently fundraising and investing in in the pan-European infrastructure mid-market.
The investment targets the rollout of a FTTH network in the provinces of Almeria, Cadiz, Cordoba, Granada, Huelva, Malaga and Sevilla.
“While the deployment of a part of the network covering approximately 1,000,000 homes passed is almost complete, the deployment of the rest of the network covering up to 1,500,000 homes passed will be carried out gradually, over an estimated period of three years”.
The investment will be committed in substantially equal parts by Digi Spain and abrdn, potentially also involving bank financing.
DIGI last year exited the Hungarian market and is now focusing on developing the network in Spain.
The company reported EUR1.5 billion revenues in 2022, up from RON1.28 billion in 2021. Operating profit hit EUR149 million, from EUR186 million in 2021.
Digi shares have gained 5% since the start of 2023 amid RON28 million deals. The company has a RON3.3 billion capitalization.
Abrdn plc, the former Standard Life Aberdeen plc, is an investment company headquartered in in Edinburgh, Scotland, listed on the LSE and part of FTSE 100 index.
(English version by Catalina Apostoiu)