REG - Cordiant Digital Inf - Update on the Acquisition of Speed Fibre Group

Cordiant Digital InfrastructureAnnouncement

10/10/2023 07:00

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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
(http://www.cordiantdigitaltrust.com) or contact:

 Cordiant Capital Inc.                             +44 (0) 20 7201 7546
 Investment Manager
 Stephen Foss, Managing Director

 Aztec Financial Services (Guernsey) Limited       +44 (0) 1481 749700
 Company Secretary and Administrator
 Chris Copperwaite / Laura Dunning

 Celicourt                                         +44 (0) 20 7770 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
(http://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 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

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