By Jaime Llinares Taboada
Digital 9 Infrastructure PLC announced on Monday that it has agreed to buy a 48.02% stake in data, network and communications services provider Arqiva Ltd. for 436 million pounds ($535.1 million) and raise capital to fund the acquisition.
The London-listed investment trust, which invests in digital infrastructure assets, said the stake was acquired from the CPP Investment Board. The price includes £300m in cash and a non-recourse seller loan note.
Arqiva is the UK’s only operator of digital terrestrial television and radio infrastructure and an Internet of Things connectivity platform for utilities, Digital 9 said.
“Arqiva expands the company’s exposure to wireless networks and will support the company’s total return and performance objectives as we continue to build a high-quality portfolio of scalable platforms and technologies,” said Arqiva. President Phil Jordan.
In addition, Digital 9 has announced that it is launching a placement and subscription offer at a price of at least 110 pence per share. This represents a 3.0% discount to Friday’s closing price.
Digital 9 said the money will be used to partially fund the acquisition of Arqiva, as well as invest more capital in its Undersea Fiber, Nordic Data Center and Data Center platforms. peak and to finance future acquisitions.
Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT