Cinven, KKR and Providence Complete Acquisition of MASMOVIL

ORANGE and MASMOVIL to combine Spanish operations in 50-50 joint venture

July 23, 2022

Telecommunications

ORANGE and MASMOVIL have signed a binding agreement to combine their Spanish businesses into a 50-50 joint venture (LORCA JVCO) based on an enterprise value of €18.6 billion (€7.8bn for ORANGE Spain and €10.9bn for MASMOVIL). The deal, backed by a €6.6bn non‑recourse debt package and expected to generate >€450m of annual synergies by year four, is subject to antitrust and regulatory approvals and is targeted to close by H2 2023, with a path to an IPO under certain conditions.

Cinven Acquires Majority Stake in Ufinet International

December 21, 2021

Telecommunications

International private equity firm Cinven's Seventh Fund will make a majority investment in Ufinet International for an enterprise value of approximately €2.5 billion. Enel, the incumbent minority co-shareholder, will re-invest a minority stake; the deal supports Ufinet's continued international expansion, network investment and buy-and-build growth across Latin America.

Cinven Acquires Ufinet International

May 14, 2018

Telecommunications

Cinven’s Sixth Fund has agreed to acquire Ufinet International, the international operations of Spanish fibre network operator Ufinet Group, for an undisclosed sum. The investment establishes Ufinet International as a platform for buy-and-build consolidation and further international expansion across Latin America, supporting continued network investment and growth.

Cinven Acquires Majority Stake in idealista

June 28, 2024

Real Estate

Cinven has agreed to acquire a 70% majority stake in idealista, the leading online real estate classifieds platform in southern Europe, in a transaction valuing the business at €2.9 billion. Funds advised by Oakley and Apax are selling their holdings, EQT will retain an 18% stake, and founder Jesús Encinar will remain invested and continue to lead the company; CVC Credit provided debt facilities to support the acquisition.

Cinven Acquires Majority Stake in Restaurant Brands Iberia

July 28, 2021

Restaurants & Hospitality

International private equity firm Cinven has agreed to acquire a majority stake in Restaurant Brands Iberia (RB Iberia) in a transaction valued at more than €1 billion. RB Iberia — the master franchisee for Burger King in Spain and Portugal and for Popeyes and Tim Hortons in Spain — will retain its founders and Burger King Europe as minority shareholders and will continue to be led by the incumbent management team as Cinven backs growth and further restaurant expansion across Iberia.

Macquarie, Aberdeen Standard and Daiwa-backed Onivia Acquires MasMovil Rural FTTH Network

May 4, 2021

Telecommunications

Macquarie Capital, Aberdeen Standard Investments and Daiwa Energy & Infrastructure (investors behind Onivia) have acquired a majority stake in a large rural FTTH network from MasMovil, doubling Onivia's coverage to more than 2.1 million homes. MasMovil retains a minority stake and remains the network's technological partner while Orange is an anchor customer; the transaction gives Onivia national reach across urban and rural Spain.