Clifford Chance and Morais Leitão on €120M data center acquisition

Asterion Industrial Partners' acquisition of the Covilhã data centre from Altice Portugal for €120 million marks Asterion's entry into the Portuguese data centre market. This platform acquisition provides Asterion with an operating 6.8 MW data centre and significant expansion potential, up to 175 MW, supported by secured electricity supply. Altice Portugal will remain an anchor tenant under a long-term Master Service Agreement, ensuring continued utilization and revenue for the facility. Clifford Chance and Morais Leitão provided legal counsel to Asterion, demonstrating the involvement of experienced advisors in this transaction. The deal is strategically important as it allows Asterion to capitalize on the growing demand for data centre capacity in Europe. The existing infrastructure and expansion capabilities of the Covilhã Campus position Asterion to become a significant player in the Portuguese data centre market. Altice Portugal benefits from the transaction by unlocking capital from its data centre asset while maintaining access to its services through the long-term agreement. The involvement of established firms like Asterion and Altice, along with legal expertise from Clifford Chance and Morais Leitão, adds credibility and stability to the transaction.