REG - Cordiant Digital Inf - Norkring België Acquisition Completes

Cordiant Digital InfrastructureAnnouncement

16/01/2024 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240116:nRSP7221Za&default-theme=true

RNS Number : 7221Z  Cordiant Digital Infrastructure Ltd  16 January 2024

16 January 2024

LEI: 213800T8RBBWZQ7FTF84

 

Cordiant Digital Infrastructure Limited

Norkring België acquisition completes

 

Cordiant Digital Infrastructure Limited (the "Company" or "CORD"), an
operationally focused, specialist digital infrastructure investor, is pleased
to announce that, following the Company's announcement on 2 November 2023,
Belgian foreign direct investment approval has been granted and the
acquisition of Norkring België ("Norkring") for total consideration of €6.2
million from Telenor Communication II AS and Participatiemaatschappij
Vlaanderen NV has completed. Norkring operates 25 communication and broadcast
towers in Belgium.

 

For further information, please visit www.cordiantdigitaltrust.com
(http://www.cordiantdigitaltrust.com) or contact:

 Cordiant Capital Inc.                                                                                                              +44 (0) 20 7201 7546

 Investment Manager

Stephen Foss, Managing
 Director

 Celicourt                                                                                                                          +44 (0)20 7770 6424

 PR Adviser

Philip Dennis / Felicity Winkles / Ali AlQahtani

 Aztec                                                                                                                              +44 (0) 1481 749700

 Company Secretary and Administrator

Chris Copperwaite / Laura Dunning

 

Notes to Editors:

About the Company

Cordiant Digital Infrastructure Limited 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 £795 million in equity, along
with a further €200m through a Eurobond with four European institutions;
deploying the proceeds into five acquisitions: CRA, Hudson Interxchange,
Emitel Speed Fibre and Norkring België, 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 ("Cordiant") is a specialist global infrastructure and
real assets manager with a sector-led approach to providing growth capital
solutions to promising mid-sized companies in Europe, North America and
selected global markets. Since the firm's relaunch in 2016, Cordiant, a
partner-owned and partner-run firm, has developed a track record of exceeding
mandated investment targets for its clients.

Cordiant focuses on the next generation of infrastructure and real assets:
sectors (digital infrastructure, energy transition infrastructure and the
agriculture value chain) characterised by growth tailwinds and technological
dynamism. In addition, Cordiant applies a strong sustainability and ESG
overlay to its investment activities.

With a mix of managed funds offering both value-add and core strategies in
equity and direct lending, our sector investment teams (combining seasoned
industry executives with traditional private capital investors) work with
investee companies to develop innovative, tailored financing solutions backed
by a comprehensive understanding of the sector and demonstrated operating
capabilities. In this way, Cordiant aims to provide value to investors seeking
to complement existing infrastructure equity and infrastructure debt
allocations.

About Norkring België NV

Based in Brussels, Belgium Norkring België NV ("Norkring") (i) operates 25
communication and broadcast towers, 8 of which are freehold and 17 leased, and
(ii) is the holder of two DAB licences and one digital terrestrial TV ("DTT")
multiplex licence. It is conducting trials as part of a consortium using 5G
broadcast technology which are partially funded and supported by the Flemish
government. 5G broadcast technology opens the potential to offer additional
services to broadcasters and mobile operators to meet the growing demand for
watching video content on the move. Video content already drives the most
traffic on public mobile networks, accounting for around two-thirds of overall
global mobile data consumption. The digital television market in Flanders
currently has a limited number of viewers. However, there is a strong market
for radio, with average listening times among the highest in Europe at 3.3
hours per day per listener, together with a healthy radio advertising market.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQKZGMMDKKGDZM