c.$215m Acquisition of Aqua Comms by Digital 9 Infrastructure plc
About the client:
D9 invests in digital infrastructure assets to deliver a reliable, functioning internet. Its assets comprise scalable platforms and technologies including subsea fibre systems, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G).
D9 is investing in those critical digital assets comprising the “backbone” of the internet.
About the transaction:
Akur advised D9 as sole M&A adviser in the acquisition of 100% of Aqua Comms DAC (“Aqua Comms”) for c.$215m, a platform owning and operating some 14,300km of the most reliable and resilient trans-Atlantic sub-sea fibre systems – representing the very “backbone” of the internet.
Aqua Comms’ assets are established, fully operational, and benefit from a long-established customer base, particularly comprising the FAANGs, and other global content providers, including Microsoft, Google, Amazon, Facebook and Apple. D9’s investment manager believes the platform has in-built further growth potential.
The transaction was a complex cross-border transaction including Irish, US, and UK counterpaties, acquired from ISIF (Ireland Sovereign wealth fund) and a range of private vendors. The consideration was satisfed by 70% in cash and 30% in vendors rolling over into D9 shares.
£300m IPO and equity fundraising on the London Stock Exchange
About the client:
D9 is a new listed investment company, focused on investing in global digital infrastructure assets
About the transaction:
D9 will invest in a range of digital infrastructure assets to deliver a reliable, functioning internet. The portfolio will comprise scalable platforms and technologies including subsea fibre systems, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G).
D9 is seeking to invest in those critical digital assets comprising the “backbone” of the internet.
The transaction also included the establishment of 12 month placing programme, enabling issuance of further shares to the value of at least £750m.
c.£25m equity structuring and exit of a series of housing portfolios to a listed UK REIT
About the client:
A specialist developer which provides suitable, high-quality properties for people in society who need them most, suitable to be leased to institutional providers.
About the transaction:
Akur ran an extensive process to identify and deliver the most appropriate capital partner to fund and provide an exit for a series of social housing portfolios.
£200m equity fundraising on the London Stock Exchange
About the client:
Tritax EuroBox is a listed UK Investment Trust, investing into European logistics assets, benefiting from the rise in online retail
About the transaction:
A follow-on equity capital raise to support the acquisitions of a new pipeline of assets – an oversubscribed transaction. The transaction also included the establishment of 12 month placing programme for up to a further 300m shares to be issued.
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