FiBrasil buys Fiberty 1, formerly Phoenix Fibra, from Blackstone

Buyer reached an agreement with a value that reached 398 million euros

FiBrasil (FiBrasil Infraestrutura e Fibra Ótica SA), a national company dedicated to the construction and operation of a neutral fiber network controlled by the Telefónica group, announces the acquisition of Fiberty 1 SA (formerly Phoenix Fiber do Brasil), managed by the Blackstone investment fund. The company is a pioneer in the concept of neutral fiber architecture and the first to operate in the country.

The acquisition takes place just one month after the start of FiBrasil’s operations. Fiberty 1 is present in 170 thousand homes (1,500 km of fiber), which represents an addition of 11 municipalities to FiBrasil’s current reach, in the states of Minas Gerais, Goiás, Espírito Santo and Rio Grande do Sul.

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The transaction also includes another 18 developing cities – with around 310 thousand covered homes – with operations expected to be completed between the fourth quarter of this year and the first of 2022. Created in 2018, Fiberty1 has a long-term contract with Telefônica Brasil, as an anchor tenant.

With the acquisition, FiBrasil increases its coverage target to 6 million homes, compared to the 5.5 million initially planned. The purchase amount was not revealed.

FiBrasil is a joint venture dedicated to the construction and operation of a neutral fiber network created by Telefônica Brasil, Telefónica Infra – the infrastructure arm of the Telefónica Group – and Caisse de dépôt et placement du Québec (CDPQ) – a global investment group. FiBrasil is currently present in 34 cities and by the end of 2021 it expects to serve 2.1 million households (pre-transaction).