Published by Jessica Weisman-Pitts
Posted on November 1, 2024
2 min readLast updated: January 29, 2026
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By Andres Gonzalez and Amy-Jo Crowley
LONDON (Reuters) – European asset manager Aermont Capital has submitted the highest binding offer for Spanish data centre operator Nabiax, two people familiar with the matter told Reuters.
Shareholder Asterion Industrial Partners and telecoms operator Telefonica received binding offers this week as part of an ongoing sale process, said the people who spoke on condition of anonymity.
Goldman Sachs Infrastructure and Igneo are also among final bidders, the sources said.
Spokespeople for Telefonica, Asterion, Goldman Sachs, Aermont and Igneo declined to comment.
The AI boom has driven demand for data centres, leading to increased investment and deal activity. In September, Amazon Web Services said it planned to spend 8 billion pounds ($10.33 billion) in the United Kingdom over the next five years to build, operate and maintain data centres.
There is no certainty a deal with Aermont will materialise and other bidders remain in the process, the two people said. It is expected that a winner will be announced as soon as next week.
The sellers are hoping to achieve a valuation of around 1 billion euros ($1.09 billion), the people said.
Asterion, which owns 80% of Nabiax, engaged bankers at BBVA and Citigroup to gauge interest in its holding last year, Reuters reported. Telefonica may also sell its 20% stake as part of the deal, sources have said.
Singaporean-listed real estate company Keppel Corporation bought a 50% stake in Aermont last year as part of a deal to buy out the remaining stake in the first half of 2028.
Asterion formed Nabiax in 2019 through the acquisition of 11 data centres from Telefonica across Spain and Latin America. It sold its Latin American operations to British infrastructure fund Actis last year, with a view to focusing on its home market.
($1 = 0.7745 pounds)
($1 = 0.9206 euros)
(Reporting by Andres Gonzalez, editing by Barbara Lewis)
A data centre is a facility used to house computer systems and associated components, such as telecommunications and storage systems. It is essential for storing, managing, and processing data.
Asset management is the systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner. It involves managing investments on behalf of clients.
Infrastructure financing refers to the funding of large-scale public works projects, such as roads, bridges, and data centres, often through public-private partnerships or investment funds.
A binding offer is a formal proposal made by a buyer to purchase an asset or company, which, if accepted, creates a legal obligation to complete the transaction.
Valuation in finance is the process of determining the current worth of an asset or a company, often used in investment analysis and mergers and acquisitions.
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