KKR and Global Infrastructure Partners (GIP) have agreed to buy global data centre real estate investment trust CyrusOne in a $15bn (€13bn) deal.
KKR and GIP are offering CyrusOne shareholders $90.50 per share in an all-cash transaction, including the assumption of debt.
The amount being offered per share represents a 25% premium to CyrusOne’s closing stock price on 27 September 2021, the last trading day prior to published market speculation regarding a potential sale of the company.
KKR’s investment is being made primarily from its global infrastructure and real estate equity strategies, and GIP’s investment is being made from its global infrastructure funds, the companies said in a joint statement.
Waldemar Szlezak, managing director at KKR, and Will Brilliant, partner at GIP, said: “We see numerous opportunities ahead to continue expanding CyrusOne’s footprint across key global digital gateway markets and look forward to leveraging our global resources, access to long term capital and deep expertise to support the Company’s growth.”
Dave Ferdman, co-founder and interim president and CEO of CyrusOne, said: “KKR and GIP will provide substantial additional resources and expertise to accelerate our global expansion and help us deliver the timely and reliable solutions at scale that our customers value.”
Lynn Wentworth, chair of the CyrusOne board of directors, said the announcement is the culmination of a robust strategic review process conducted by the CyrusOne board of directors to determine the best path forward for the company and maximise stockholder value.
“This transaction provides CyrusOne stockholders with significant value and simultaneously positions the company to even better serve its customers to meet their needs in key markets around the world.”
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