Update on the Acquisition of Speed Fibre Group

Cordiant Digital Infrastructure Ltd

10 October 2023

 

 10 October 2023                                              

LEI: 213800T8RBBWZQ7FTF84

Cordiant Digital Infrastructure Limited

Update on the Acquisition of Speed Fibre Group

Cordiant Digital Infrastructure Limited (the "Company" or "CORD"), an operationally focused specialist digital infrastructure investor, is pleased to announce that the acquisition by the Company of Speed Fibre DAC (Speed Fibre") (the "Transaction") has been cleared under the United Kingdom's National Security and Investment Act 2021. This clearance was required because an element of Speed Fibre's network extends into Northern Ireland.

The Transaction is now expected to close later this month.

For further information, please visit www.cordiantdigitaltrust.com or contact:

Cordiant Capital Inc.	[phone]
Investment Manager
Stephen Foss, Managing Director
Aztec Financial Services (Guernsey) Limited	[phone]
Company Secretary and Administrator
Chris Copperwaite / Laura Dunning
Celicourt	[phone]
Financial Communications Advisor
Philip Dennis / Felicity Winkles / Ali AlQahtani

About CORD

The Company 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 £795 million in equity, along with a further €200m through a Eurobond with four European institutions; deploying the proceeds into four acquisitions: CRA; Hudson Interxchange; Emitel and Speed Fibre Group (expected to close in October 2023), 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. (the Investment Manager), the Company's investment manager, is a sector-specialist investor with particular expertise and experience in digital infrastructure. It invests in global infrastructure and real assets, running infrastructure private equity and infrastructure private credit strategies through limited partnership funds and managed accounts. Its current client base consists of global insurance companies, pension plans and family offices.

About Speed Fibre Group

Speed Fibre, Ireland's leading open access fibre infrastructure provider, operates via its subsidiaries Enet and Magnet Plus. With 5,400 kilometres of owned and leased fibre and wireless backhaul across Ireland, Speed Fibre provides dark fibre, wavelength and ethernet services to a mix of carriers, internet service providers, corporate customers and the government. Speed Fibre is also well-positioned to serve Ireland's growing data centre sector, which is expected to be among the fastest growing hyperscale data centre markets in Western Europe over the next five to 10 years.

Enet is the manager of Ireland's 88 metropolitan area networks (MANs) - fibre rings that connect 94 large regional towns to high-speed international networks.  Aside from managing the MANs under a government concession, Enet has a managed services contract for Irish Rail's long-distance fibre backhaul network. It also owns key infrastructure such as the T5 ring which circles the M50 and connects many of the country's biggest data centres. The MAN concession lasts until March 2030.

Magnet Plus operates the country's largest independent connectivity network. It provides end customer connectivity for some of the world's biggest technology companies, as well as telecommunications, data, and security services to both commercial and residential markets in Ireland.

Further details about Speed Fibre can be found on its website at www.speedfibregroup.ie

 

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