REG - Cordiant Digital Inf - Update on Speed Fibre Acquisition of BTCIL

Cordiant Digital InfrastructureAnnouncement

15/04/2025 07:02

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RNS Number : 9580E  Cordiant Digital Infrastructure Ltd  15 April 2025

15 April 2025

LEI:213800T8RBBWZQ7FTF84

 

Cordiant Digital Infrastructure Limited

Update on Speed Fibre Acquisition of BTCIL

 

Cordiant Digital Infrastructure Limited (the "Company"), the operationally
focused investor specialising in digital infrastructure, managed by Cordiant
Capital Inc (the "Investment Manager"), is pleased to announce that the
acquisition by its wholly owned Irish fibre platform, Speed Fibre Group, of BT
Communications Ireland Ltd ("BTCIL"), previously announced on 5 February 2025
(the "Transaction"), has been cleared by the Competition and Consumer
Protection Commission in Ireland.

The remaining conditions to closing relate to approval under Ireland's foreign
direct investment legislation as well as the completion of the transfer to BT
of the retained businesses from BTCIL which are outside of the Transaction
perimeter.

Pending the aforementioned conditions, the Transaction is expected to close
later in 2025.

 

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 (http://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 six acquisitions: CRA, Hudson Interxchange, Emitel, Speed
Fibre, Belgian Tower Company and Datacenter United, 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 Speed Fibre Group

Speed Fibre is an open access fibre infrastructure provider in the Republic of
Ireland and includes the businesses of Enet and Magnet Plus. Further details
about Speed Fibre can be found on its website at www.speedfibregroup.ie
(http://www.speedfibregroup.ie/) .

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. In total, Enet
manages or owns 5,600km of fibre. The concession to run the MANs lasts
until March 2030.

Magnet Plus operates an independent connectivity network. It provides
connectivity for some of the world's biggest technology companies, as well as
telecommunications, data connectivity, and security services to both
commercial and residential markets in Ireland, throughout Europe, the US and
beyond.

About BTCIL

BT Communications Ireland Limited (BTCIL) is one of the main alternative fixed
line communications providers in Ireland. The acquired business currently
provides communications solutions to domestic and wholesale telecommunications
operators, government departments and enterprise customers delivering
networking, voice, data, security and managed services. BTCIL's B2B business
has historically been focused on serving global multinational companies. This
element of its business will be retained by BT going forward and continue to
operate in Ireland. Data Centre and multi-national enterprise customer
businesses, which were historically operated under BTCIL, are excluded from
the Transaction perimeter.

 

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