CyrusOne shareholders will receive $90.50 per share.
Global investment firms KKR and Global Infrastructure Partners (“GIP“) plan to acquire CyrusOne, a first Global Data Center REITs. It is an all-cash deal worth approximately $15 billion, including debt assumption.
Dave Ferdman is co-founder and interim president and CEO of CyrusOne.
“This transaction is a testament to the tremendous work of the entire CyrusOne team,” Ferdman said. “We have built one of the world’s leading data center companies with a presence in major US and international markets, serving the critical digital infrastructure needs of our customers while creating significant value for our shareholders.”
Additionally, KKR and GIP will provide substantial additional resources and expertise to accelerate CyrusOne’s global expansion, he said. In addition, it will provide fast and reliable large-scale solutions.
Lynn Wentworth, chair of the board of CyrusOne, said the deal is the culmination of a solid strategic review. As a result, he determined the best way forward for the business and to maximize shareholder value.
“This transaction provides CyrusOne shareholders with significant value,” Wentworth said. “And it simultaneously positions the company to even better serve its customers to meet their needs in key markets.”
CyrusOne has built one of the strongest data center companies in the world. Subsequently, it has a history of development and operational expertise, according to its financial partners.
Waldemar Szlezak is managing director of KKR and Will Brilliant is partner of GIP.
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“We see many opportunities ahead to continue to expand CyrusOne’s footprint in key global digital gateway markets,” they said. “We look forward to leveraging our global resources, access to long-term capital and deep expertise to support the company’s growth.”
No financing conditions
The transaction, unanimously approved by CyrusOne’s Board of Directors, is not subject to a financing condition. It will likely close in the second quarter of 2022.
In addition, once the transaction is finalized, CyrusOne will be a private company wholly owned by KKR and GIP. Accordingly, the common shares of CyrusOne will no longer be listed on any public market. KKR’s investment comes from its global infrastructure and real estate equity strategies. GIP’s investment comes from its global infrastructure funds.