Cordiant Digital Infrastructure Ltd Regulatory update on Speed Fibre Acquisition (7302N)
September 27 2023 - 1:00AM
UK Regulatory
TIDMCORD
RNS Number : 7302N
Cordiant Digital Infrastructure Ltd
27 September 2023
27 September 2023
LEI: 213800T8RBBWZQ7FTF84
Cordiant Digital Infrastructure Limited
Regulatory update on the Acquisition of Speed Fibre Group
Cordiant Digital Infrastructure Limited (the "Company" or
"CORD"), an operationally focused specialist digital infrastructure
investor, is pleased to announce in relation to the acquisition by
the Company of Speed Fibre DAC ("Speed Fibre") (the "Transaction"),
that the Department of the Environment, Climate and Communications
in Ireland has approved the change of control of Speed Fibre
subsidiary, Enet, as required under the metropolitan area network
concession agreements to which Enet is a party.
The Transaction is expected to close later this year.
Following the completion of the Transaction, Speed Fibre,
Ireland's leading open access fibre infrastructure provider, will
be the fourth digital infrastructure investment made by CORD since
its launch in 2021. Consistent with the Company's "Buy, Build &
Grow" model, Speed Fibre is a cash generative platform and is well
placed to invest in network expansion and other opportunities where
it can serve the continuing growth in data demand in Ireland.
For further information, please visit
www.cordiantdigitaltrust.com or contact:
+44 (0) 20 7201
Cordiant Capital Inc. 7546
Investment Manager
Stephen Foss, Managing Director
+44 (0) 1481
Aztec Financial Services (Guernsey) Limited 749700
Company Secretary and Administrator
Chris Copperwaite / Laura Dunning
+44 (0) 20 7770
Celicourt 6424
Financial Communications Advisor
Philip Dennis / Felicity Winkles / Ali
AlQahtani
About CORD
The Company primarily invests in the core infrastructure of the
digital economy - data centres, fibre-optic networks and
telecommunication and broadcast towers in Europe and North America.
Further details about the Company can be found on its website at
www.cordiantdigitaltrust.com .
In total, the Company has successfully raised GBP795 million in
equity, along with a further EUR200m through a Eurobond with four
European institutions; deploying the proceeds into four
acquisitions: CRA; Hudson Interxchange; Emitel and Speed Fibre
Group (expected to close during 2023), which together offer stable,
often index-linked income, and the opportunity for growth, in line
with the Company's Buy, Build & Grow model.
About the Investment Manager
Cordiant Capital Inc. (the Investment Manager), the Company's
investment manager, is a sector-specialist investor with particular
expertise and experience in digital infrastructure. It invests in
global infrastructure and real assets, running infrastructure
private equity and infrastructure private credit strategies through
limited partnership funds and managed accounts. Its current client
base consists of global insurance companies, pension plans and
family offices.
About Speed Fibre Group
Speed Fibre, Ireland's leading open access fibre infrastructure
provider, operates via its subsidiaries Enet and Magnet Plus. With
5,400 kilometres of owned and leased fibre and wireless backhaul
across Ireland, Speed Fibre provides dark fibre, wavelength and
ethernet services to a mix of carriers, internet service providers,
corporate customers and the government. The business is also
well-positioned to serve Ireland's growing data centre sector,
which is expected to be among the fastest growing hyperscale data
centre markets in Western Europe over the next five to 10
years.
Enet is the manager of Ireland's 88 metropolitan area networks
(MANs) - fibre rings that connect 94 large regional towns to
high-speed international networks. Aside from managing the MANs
under a government concession, Enet has a managed services contract
for Irish Rail's long-distance fibre backhaul network. It also owns
key infrastructure such as the T5 ring which circles the M50 and
connects many of the country's biggest data centres. The concession
to run the MANs lasts until March 2030.
Magnet Plus operates the country's largest independent
connectivity network. It provides end customer connectivity for
some of the world's biggest technology companies, as well as
telecommunications, data, and security services to both commercial
and residential markets in Ireland, throughout Europe, the US and
beyond.
Further details about Speed Fibre can be found on its website at
www.speedfibregroup.ie
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFSRALIRFIV
(END) Dow Jones Newswires
September 27, 2023 02:00 ET (06:00 GMT)
Cordiant Digital Infrast... (LSE:CORD)
Historical Stock Chart
From Apr 2024 to May 2024
Cordiant Digital Infrast... (LSE:CORD)
Historical Stock Chart
From May 2023 to May 2024