Cordiant Digital Infrastructure Ltd Update on the Acquisition of Speed Fibre Group (4705P)
October 10 2023 - 1:00AM
UK Regulatory
TIDMCORD
RNS Number : 4705P
Cordiant Digital Infrastructure Ltd
10 October 2023
10 October 2023
LEI: 213800T8RBBWZQ7FTF84
Cordiant Digital Infrastructure Limited
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 that the acquisition by the
Company of Speed Fibre DAC (Speed Fibre") (the "Transaction") has
been cleared under the United Kingdom's National Security and
Investment Act 2021. This clearance was required because an element
of Speed Fibre's network extends into Northern Ireland.
The Transaction is now expected to close later this month.
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 in October 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. Speed Fibre 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 MAN
concession 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.
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
ACQBLBDGGXGDGXC
(END) Dow Jones Newswires
October 10, 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