Cordiant Digital Infrastructure Ltd Norkring België Acquisition Completes (7221Z)
January 16 2024 - 2:00AM
UK Regulatory
TIDMCORD
RNS Number : 7221Z
Cordiant Digital Infrastructure Ltd
16 January 2024
16 January 2024
LEI: 213800T8RBBWZQ7FTF84
Cordiant Digital Infrastructure Limited
Norkring België acquisition completes
Cordiant Digital Infrastructure Limited (the "Company" or
"CORD"), an operationally focused, specialist digital
infrastructure investor, is pleased to announce that, following the
Company's announcement on 2 November 2023, Belgian foreign direct
investment approval has been granted and the acquisition of
Norkring België ("Norkring") for total consideration of EUR6.2
million from Telenor Communication II AS and
Participatiemaatschappij Vlaanderen NV has completed. Norkring
operates 25 communication and broadcast towers in Belgium.
For further information, please visit
www.cordiantdigitaltrust.com or contact:
Cordiant Capital Inc.
Investment Manager
Stephen Foss, Managing Director +44 (0) 20 7201 7546
Celicourt
PR Adviser
Philip Dennis / Felicity Winkles / Ali
AlQahtani +44 (0)20 7770 6424
Aztec
Company Secretary and Administrator
Chris Copperwaite / Laura Dunning +44 (0) 1481 749700
Notes to Editors:
About the Company
Cordiant Digital Infrastructure Limited primarily invests in the
core infrastructure of the digital economy - data centres,
fibre-optic networks and telecommunication and broadcast towers in
Europe and North America. Further details about the Company can be
found on its website at www.cordiantdigitaltrust.com.
In total, the Company has successfully raised GBP795 million in
equity, along with a further EUR200m through a Eurobond with four
European institutions; deploying the proceeds into five
acquisitions: CRA, Hudson Interxchange, Emitel Speed Fibre and
Norkring België, which together offer stable, often index-linked
income, and the opportunity for growth, in line with the Company's
Buy, Build & Grow model.
About the Investment Manager
Cordiant Capital Inc ("Cordiant") is a specialist global
infrastructure and real assets manager with a sector-led approach
to providing growth capital solutions to promising mid-sized
companies in Europe, North America and selected global markets.
Since the firm's relaunch in 2016, Cordiant, a partner-owned and
partner-run firm, has developed a track record of exceeding
mandated investment targets for its clients.
Cordiant focuses on the next generation of infrastructure and
real assets: sectors (digital infrastructure, energy transition
infrastructure and the agriculture value chain) characterised by
growth tailwinds and technological dynamism. In addition, Cordiant
applies a strong sustainability and ESG overlay to its investment
activities.
With a mix of managed funds offering both value-add and core
strategies in equity and direct lending, our sector investment
teams (combining seasoned industry executives with traditional
private capital investors) work with investee companies to develop
innovative, tailored financing solutions backed by a comprehensive
understanding of the sector and demonstrated operating
capabilities. In this way, Cordiant aims to provide value to
investors seeking to complement existing infrastructure equity and
infrastructure debt allocations.
About Norkring België NV
Based in Brussels, Belgium Norkring België NV ("Norkring") (i)
operates 25 communication and broadcast towers, 8 of which are
freehold and 17 leased, and (ii) is the holder of two DAB licences
and one digital terrestrial TV ("DTT") multiplex licence. It is
conducting trials as part of a consortium using 5G broadcast
technology which are partially funded and supported by the Flemish
government. 5G broadcast technology opens the potential to offer
additional services to broadcasters and mobile operators to meet
the growing demand for watching video content on the move. Video
content already drives the most traffic on public mobile networks,
accounting for around two-thirds of overall global mobile data
consumption. The digital television market in Flanders currently
has a limited number of viewers. However, there is a strong market
for radio, with average listening times among the highest in Europe
at 3.3 hours per day per listener, together with a healthy radio
advertising market.
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