Clifford Chance advises Asterion on the acquisition of the Covilhã data centre from Altice Portugal

Clifford Chance advises Asterion Industrial Partners on its entry into the Portuguese data centre market with the acquisition of the Covilhã data centre from Altice Portugal, the country’s leading telecommunications operator, for €120 million.

The Covilhã Campus is a representative data centre with 6.8 MW of installed capacity, and with architectural potential, available land and secured electricity supply to accommodate an expansion of up to 175 MW.

As part of the transaction, Altice Portugal will continue as an anchor tenant of the data centre under a long-term Master Service Agreement.

This is Asterion’s second relevant data centre transaction, following last year’s sale of Nabiax, in which Clifford Chance also acted as legal advisor to the fund.

The Clifford Chance team that advised Asterion was led by partner Javier Amantegui, with the support of counsel Javier Olábarri and associate Sofía Albiñana. In addition, senior associate Ana Latorre and associate Oscar Barracchini supported all aspects related to competition law.

For matters relating to Portuguese law, Clifford Chance has had the support of the firm Morais Leitão.