Altice International - comment

Altice International are again trying to sell their Covilhã Data centre in Portugal, with press reports stating that the base valuation exceeds €100m / close to €200m. Perella Weinberg has been hired and is expected to receive non-binding offers by the end of next week. This is the same asset that was reportedly close to being sold in Summer 2023 for €100m with a Portuguese infrastructure investor Horizon Equity Partners claimed as the most likely buyer. 

Originally constructed by Portugal Telecom, the 75,500 sqm (813,000 sq ft) Covilhã facility offers 12,000 sqm (129,000 sq ft) of colocation space across 24 data halls; capacity enough for more than 50,000 servers. A moat surrounds the data centre, which is shaped like a cube, to give the illusion it is floating on the water and helps create a cooler microclimate.