EQT Active Core Infrastructure to buy Radius Global in $1.43 bln deal (updated)

Radius Global Infrastructure

01/03/2023 23:09

(Adds details, shares)
       March 1 (Reuters) - EQT Active Core Infrastructure fund
said on Wednesday it had, together with the Public Sector
Pension Investment Board, agreed to buy Radius Global
Infrastructure Inc  RADI.O  in a deal valued at $1.43 billion.
    Including debt, the deal value would be about $3.0 billion. 
    Under the terms of the deal, Radius shareholders will
receive $15 per share in cash, which represents a premium of
7.9% to the stock's last close. 
    The deal would expand EQT's digital infrastructure
portfolio, which includes Zayo, GlobalConnect and EdgeConneX.
    Shares of Radius Global, which leases cell sites to wireless
tower companies and mobile network operators, were up 4.7% at
$14.55 in aftermarket trade. 
     The transaction is expected to close in the third quarter
of 2023. 
    Morgan Stanley & Co LLC served as financial advisor and
Simpson Thacher & Bartlett LLP as legal advisor to EQT.
    

 (Reporting by Kannaki Deka in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Kannaki.Deka@thomsonreuters.com;))