Lumen Technologies (formerly CenturyLink) officially closed the sale of its Latin American operations to Stonepeak for USD2.7 billion cash on 1 August. The Latin American business will now be called Cirion and be operated as an independent portfolio company of Stonepeak.
Going forward, Lumen and Cirion have established a strategic relationship to serve customers in the region. It includes reciprocal reselling and network arrangements that leverage each other’s extensive fibre footprints, data centres and other network assets.
The assets in question were acquired by CenturyLink in 2017, as part of its buyout of Level 3. At that time the company presided over a 26,000km LatAm network footprint that spanned the likes of Argentina, Brazil, Colombia, Ecuador, Mexico, Panama and Peru.
The Stonepeak deal was agreed in July 2021.