REG - Cordiant Digital Inf - Update on Belgian Data Centre Acquisitions

Cordiant Digital InfrastructureAnnouncement

13/01/2025 07:00

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RNS Number : 9495S  Cordiant Digital Infrastructure Ltd  13 January 2025

13 January 2025

LEI:  213800T8RBBWZQ7FTF84

 

Cordiant Digital Infrastructure Limited

Update on Belgian Data Centre Acquisitions

 

Cordiant Digital Infrastructure Limited (the "Company" or "CORD"), an
operationally focused investor specialising in digital infrastructure, managed
by Cordiant Capital Inc ("Cordiant", or the "Investment Manager"), is pleased
to announce that the acquisition by the Company and another fund managed by
Cordiant of a 47.5%¹ economic interest in DCU Invest NV ("DCU Invest", or
"Datacenter United") and the combination of DCU Invest with the data centre
business of Proximus Group,  DCU Brussels NV (together the "Transactions"),
previously announced on 25 October 2024, have received the required regulatory
approvals.

The Transactions have been approved under foreign direct investment
legislation in Belgium by the Interfederal Screening Authority and cleared by
the Competition and Consumer Protection Commission in Ireland, a requirement
arising as result of the turnover of the acquiring parties in Ireland.

The remaining conditions to closing relate to the transfer of the relevant
businesses and the closing of both Transactions. The Transactions remain on
track to close as expected in Q1 2025.

¹ The Company's economic interest is expected to be 37.2% with the other
Cordiant managed fund holding the remaining 10.3%. The total voting interest
being acquired is 50%.

 

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
 Aztec                                                    +44 (0) 1481 749700

 Company Secretary and Administrator

 Chris Copperwaite / Laura Dunning
 Celicourt                                                +44 (0) 20 7770 6424

 PR Adviser

 Philip Dennis / Ali AlQahtani / Charles Denley-Myerson

 

About the Company

 

Cordiant Digital Infrastructure Limited primarily invests in the core
infrastructure of the digital economy: data centres; fibre-optic networks;
telecommunications and broadcast towers - in Europe and North America. Further
details about the Company can be found on its website at
www.cordiantdigitaltrust.com.

 

The Company is a sector-focused specialist owner and operator of Digital
Infrastructure, listed on the London Stock Exchange under the ticker CORD. In
total, the Company has successfully raised £795 million in equity, along with
a €375 million debt package comprising a €200 million Eurobond and €175
million of committed capex and revolving facilities, deploying capital into
five acquisitions: CRA, Hudson, Emitel, Speed Fibre and Norkring, 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 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. It also 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, Cordiant's sector investment teams (combining
experienced 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 Datacenter United

Datacenter United is a market leading Tier III/IV data centre operator based
in Belgium. The group operates 9 data centres across 8 locations in the
Flanders region, with a strong presence in Antwerp, Ghent and Bruges. The
group has an experienced management team led by Friso Haringsma.

About  DCU Brussels

DCU Brussels NV is the newly incorporated entity which will hold the Tier III
Brussels data centre assets currently owned by Proximus, the market leading
telecommunications operator in Belgium. The business has 4 data centres in 3
locations, all around the Brussels region. Proximus remains a key customer of
the business under a new 10-year index-linked contract with two 5-year
extensions.

 

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