Norkring België Acquisition Completes
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 €6.2 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 |
+44 (0) 20 7201 7546 |
|
Celicourt PR Adviser
|
+44 (0)20 7770 6424 |
|
Aztec Company Secretary and Administrator
|
+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 £795 million in equity, along with a further €200m 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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 7 hours ago Johnson Matthey
- 8 hours ago Galliford Try
- 9 hours ago Galliford Try
- 9 hours ago Centrica
- 9 hours ago Smith & Nephew