Lumen closes sale of its Latin American business to Stonepeak

Lumen and Cirion have established a strategic relationship to serve customers of both companies in the region, who will benefit from this ongoing association.

The $2.7 billion transaction provides additional capital to enable Lumen to invest in key growth areas and support the company's other capital allocation priorities, including ongoing debt paydown.

Stonepeak has named Lumen's LATAM Regional President, Facundo Castro, as the new CEO of Cirion and is retaining the current executive team and existing employees. Cirion has also added several new hires in recent months to the company's executive team, all of whom bring extensive experience in the sector across the region.