Lumen will divest its Latin American business, which will operate as an independent, U.S. headquartered portfolio company of Stonepeak (the “New LATAM Company”). The current Latin American leadership team and organization will remain in place, led by Hector Alonso, Lumen’s president for the region. Lumen will also retain a strategic relationship with the New LATAM Company and continue to serve joint customers in the region. Lumen’s Latin American business is a market leader with a strong footprint and exciting potential for expansion. Lumen will continue to serve customers in North America and the EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific) regions with needs in Latin America through its strategic partnership with the New LATAM Company. This relationship includes reciprocal reselling and network arrangements that leverage each other’s extensive fibre footprints, data centres and other network assets. Upon the completion of the transaction, customers who seek services within the Latin America region will work directly with the New LATAM Company or through the strategic Lumen partnership.
For Stonepeak, the transaction represents an opportunity to invest in a Latin American communications platform with an extensive subsea, terrestrial fibre and data centre footprint across the region, including several of its large metro markets. As with its other communications platforms, Stonepeak plans to invest heavily behind Alonso and the New LATAM Company management team. Lumen is guided by our belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fibre miles and serving customers in more than 60 countries, we deliver the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.