Telefónica and the Vauban Infrastructure Partners/Crédit Agricole Assurances consortium create Bluevia

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(Boursier.com) — The group Telefonicaone of the world’s largest operators of telecommunications services, and the consortium, Crédit Agricole Assurances (“CAA”), Europe’s leading bancassurance group, and Vauban Infrastructure Partners (“Vauban”), a long-term investor in the infrastructure sector reached an agreement for the creation of Bluevia Fibra, SL, a unique platform dedicated to the commercialization and deployment of a fiber network (FTTH) in Spain, mainly in rural areas, with limited coverage with other fiber networks.

CAA/Vauban will invest a total of 1,021 million euros, valuing 100% of Bluevia at 2,500 million euros, which represents an implied multiple of 27.1 times the estimated pro forma EBITDA for 2022. the transaction, Telefónica Group will retain 55% of the capital of Bluevia.
The CAA/Vauban consortium will hold the remaining 45%. The 55% stake of the Telefónica Group will be held by Telefónica España Filiales, SA and Telefónica Infra, SLU, with 30% and 25% of the shares respectively.


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