Digital 9 Infrastructure is selling a data centre platform diversified across the UK and Nordics to Ardian for up to $575m (€663m).
The London Stock Exchange-listed investment trust said it has agreed to sell Verne Global for $440m in cash and a potential earn-out payment of up to $135m.
Digital 9 said the transaction will allow the company to reduce its debt burden by paying down approximately £300m of its revolving credit facility.
The company also announced the start of a strategic review to develop a plan to maximise shareholder value and help “address the company’s financial uncertainty”.
Verne’s Northern European data centre platform has experienced significant growth and now includes five data centre campuses in London, Iceland and Finland.
In a joint statement, Ardian’s co-heads of infrastructure Europe, Juan Angoitia Grijalba and Benoît Gaillochet, said: “Verne Global continues Ardian’s strategy of investing in a balanced portfolio of infrastructure with scope for growth and attractive returns.
“This transaction further illustrates the capability of the Infrastructure team at Ardian to invest in large digital infrastructure assets in Europe.”
Dominic Ward, CEO of Verne Global, said: “We are absolutely delighted to become part of the Ardian platform, which has a team with deep expertise in digital infrastructure that will help accelerate our ambitious expansion plans across the Nordics.
“Verne aims to deliver sustainable data centre solutions that enable organisations to cost-effectively scale their digital infrastructure while reducing their environmental impact. We are hugely excited to be working with Ardian and believe that we have the perfect partner to help power our future.“
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