Infrastructure fund manager Antin Infrastructure Partners has acquired the remaining 15% stake in France Pylônes Services (FPS) Towers from French operator Bouygues Telecom.
According to sources, Bouygues has achieved a good capital gain compared to its initial valuation of €30 million (US$33.6 million) for its stake in the French towers business.
Bouygues Telecom sold 2,166 of its telecom towers in France to Antin for €205 million back in 2012. At that time Bouygues Telecom retained a 15% minority stake in FPS, the company created to own and manage the telecom towers.
Located throughout France, FPS provides hosting services to Bouygues Telecom and other operators. The firm, which is the first independent telecom tower company in France, operates 18,000 high points.
Two weeks ago Bouygues sold a 18.6% stake in Eranove, a West African utility company with operations in power generation, transmission and distribution, as well as water production and distribution to AXA Investment Managers,