Telecoms infrastructure company Cellnex has completed the sale of its French data center business Towerlink France to Vauban Infra Fibre subsidiary IFSP6 Trinity.

It follows Cellnex’s announcement in October that its French subsidiary agreed to sell 99.99 percent of Towerlink France, the entity responsible for the group’s main data center operations in France.

The all-cash deal would be valued at €391 million ($463m).

“The completion of this transaction represents a step forward in the Company’s strategic roadmap, which allows the group to continue to focus on its core areas of activity,” said Cellnex.

VIF is a French company backed by funds from Vauban Infrastructure Partners, entities of Crédit Agricole Assurances, and Raffles, a subsidiary of GIC. It operates fiber networks across France.

Founded in 2018, Towerlink is the owner, operator, and developer of urban Edge data centers, with a presence across multiple sites in France.

“This closing marks an important milestone in our strategic roadmap,” said Marco Patuano, CEO of Cellnex. “By focusing our resources on our core business – neutral-host telecom infrastructure – we are better positioned to drive sustainable growth, support the digital transformation of our customers, and deliver long-term value to our shareholders. The proceeds from this transaction will further reinforce our balance sheet and enable us to continue investing in the expansion and modernization of our European network.”

Tower firm Cellnex manages a portfolio of more than 110,000 sites across ten European countries. Its footprint includes sites in Spain, France, the United Kingdom, Italy, and Poland. Cellnex also operates a number of data center sites in Spain and 24 high telecom & data towers throughout the Netherlands – plus a larger Dutch data center at the Media Park in Hilversum.

Cellnex has sold a number of its assets in the last couple of years, including its private networks business to Boldyn Networks.

Last year, Cellnex completed the sale of its Irish business to Phoenix Tower International (PTI) for €971 million ($1.15 billion).

In December 2024, the company sold its Austrian tower unit to a consortium comprised of Vauban Infrastructure Partners, EDF Invest, and MEAG for €803m ($952m).

Prior to that, Cellnex sold a 49 percent stake in its Swedish and Danish subsidiaries to Stonepeak for €730 million ($865m).

Vauban Infrastructure Partners is an infrastructure asset manager focused on the European infrastructure mid-market segment, and has raised approximately €10 billion ($11.7bn) across eight infrastructure funds. Its data center investments include Icelandic operator Borealis.

VIF manages more than 13 million FTTH connectable lines through 25 assets across rural, urban, and medium-density areas.