Proximus Group has signed a binding agreement with InfraRed Capital Partners to sell 100% of the shares of Proximus Luxembourg Infrastructure (PLI) for a total consideration of EUR 108 million to InfraRed’s European Infrastructure Income Fund 4. PLI is the first independent TowerCo entity in Luxembourg and manages 267 mobile tower assets. The agreement marks another important milestone in Proximus Group’s divestment strategy aiming at optimizing its asset base to reinvest in ongoing transformative projects.
Proximus Luxembourg, operating under the Tango and Proximus NXT brands, will remain an anchor tenant on the respective sites. A long-term master service agreement will ensure continued access to the infrastructure for Proximus Luxembourg, guaranteeing uninterrupted mobile services and consistent network coverage for Tango and Proximus NXT customers.
InfraRed intends to support the further growth of PLI as the leading independent telecommunications infrastructure business in Luxembourg. The experienced management team of the company will remain on board, leveraging their deep understanding of the Luxembourg market and exploring opportunities to further grow the tower portfolio in response to customer requirements and evolving demands.
The proceeds from the sale will support investments in critical growth areas, such as its fiber roll-out strategy, aiming to deliver high-speed connectivity to households and businesses. The closing of this transaction is expected to occur in the first quarter of 2025, subject to regulatory approvals.