Oi Group sells five data centre hubs to Piemonte Holding
The data centre offer was received from Piemonte Holding, a financial institution based in Rio de Janeiro.
Latin American telecom operator Oi Group has announced that last week it accepted a binding offer for the sale of its portfolio of five data centres.
Since Oi Group is in judicial recovery (a process similar to the Chapter 11), the transaction now in the process of needing approval by the creditors and go through a judicial bid.
“It is a bold and strategic acquisition for Elea Digital, our data centre holding company,” said Alessandro Lombardi, CEO of Piemonte Holding.
Advised by Bank of America, Oi Group obtained a higher than expected offer thanks to the creation of a separated business unit (UPI), that includes the five data centres of Brasil Telecom, Telemar and Oi Mobile. The UPI structure allows for a higher protection, according to the company.
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“At the closing of this acquisition, we foresee Elea Digital total assets above R$1 billion. Our financial strength and resiliency comes from a strategy of investing in digital infrastructure, cybersecurity and prudent management of the relevant cash flows these assets may generate,” added Lombardi, who leads a financial holding that recorded a R$50 million net profit in FY19.
The company is yet to release further details about the data centre portfolios including its location or the financial particulars of the transaction.
Last year, Piemonte Holding, through the Titan Venture Capita and Alteredo Gonçalves, CEO and partner of GBT, joined together to replicate in scale the model of the GBT Data Centre, the second largest in Brazil dedicated to the financial sector.
Alteredo Gonçalves has been the CEO of GBT since the start-up launched, managing over R$400 million of mission critical work.
Piemonte Holding is a financial institution, which acts as a manager of its own resources, business administration and investment funds that can leverage resources in the project.
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