The French media group Altice sells Green.ch
The struggling French telecommunications and media group Altice is selling its Swiss internet and data center operator, Green.ch. The French private equity firm Infravia Capital Partners is acquiring the company for 214 million Swiss francs.
The deal should be completed at the beginning of 2018, Altice announced on Friday. The Green.ch Group consists of two ICT service providers: Green.ch offers Internet and data backup services to private and corporate customers, while Green Datacenter operates data centers.
The group, based in Lupfig AG, was founded in 1995 and has a branch in Lonay VD and a subsidiary in China. Around 120 employees work for Green.
"The sale is very positive for our company," Green Chairman of the Board of Directors and Lucerne SVP National Councillor Franz Grüter told the SDA news agency. Infravia specializes in long-term investments in data center infrastructure. "This is where Green has grown the most in recent years." The business now accounts for around two thirds of turnover.
One of the largest data centers
Green has a pioneering role in data centers in Switzerland, continued the Chairman of the Board of Directors. The company's first data center went into operation in 2002. Today, Green Datacenter operates five high-security data centers. The center in Lupfig is one of the largest in Switzerland, said Grüter. Companies from all over the world store their data at Green, which serves 100,000 customers in over 80 countries.
"The sale means continuity for employees, customers and the company," Grüter continued. Conversely, Green would have had to change the name if he had stayed with Altice, as the French group wants to implement an umbrella brand strategy - meaning there will only be one brand.
The management will also remain on board. Grüter handed over operational management of the Group to Frank Boller at the beginning of 2016. Green will own 100 percent of Infravia in future. Previously, the management had also held its own shares, but sold them to Altice before the deal.
Altice in turbulence
Altice became the majority shareholder of Green.ch in 2008. The French company, managed by billionaire Patrick Drahi, was punished on the stock exchange at the beginning of November following disappointing figures. Investors are particularly concerned about the huge mountain of debt. The Israeli-French entrepreneur Drahi has rapidly expanded his portfolio in recent years with a multi-billion purchasing spree.
After the massive fall in the share price, Drahi, who is also Altice's main shareholder, pulled the emergency brake and restructured the management. CEO Michel Combes left the Group and Drahi himself took over the presidency of the Group. (SDA)
