2 November 2023
LEI: 213800T8RBBWZQ7FTF84
Cordiant Digital Infrastructure Limited
Acquisition of Norkring België
Cordiant Digital Infrastructure Limited (the “Company” or “CORD”), an operationally focused specialist digital infrastructure investor, is pleased to announce it has agreed to acquire Norkring België NV (“Norkring”), which operates 25 communication and broadcast towers in Belgium, from its current shareholders Telenor Communication II AS and Participatiemaatschappij Vlaanderen NV.
Norkring is being acquired for a total enterprise value of €5.25m, subject to customary adjustments. The transaction is being funded from CDIL’s cash on its balance sheet and is conditional upon foreign direct investment approval in Belgium. It is expected to complete before the end of the Company’s current financial year.
In addition to its towers, Norkring is the holder of two DAB licences and one DTT multiplex licence. It provides (i) radio and TV broadcasting services to commercial stations and distributors and (ii) colocation and site-hosting to broadcasters, niche communications operators and mobile network operators. As part of a consortium, Norkring is conducting trials using 5G broadcast technology, which is expected to provide it with the ability to offer additional services to broadcast and mobile operator customers.
Commenting, Steven Marshall, Chairman, Cordiant Digital Infrastructure Group said:
“This acquisition represents an opportunity to acquire assets and an experienced team that offers a quality near-term income proposition, provides a platform for further asset diversification in Western Europe and comes with technology and knowhow that have the potential to benefit the development of CORD’s other portfolio companies.”
For Further Information, please visit www.cordiantdigitaltrust.com or contact:
| Cordiant Capital Inc. Investment ManagerStephen Foss, Managing Director | +44 (0) 20 7201 7546 |
| CelicourtPR AdviserPhilip Dennis / Felicity Winkles / Ali AlQahtani | +44 (0)20 7770 6424 |
| AztecCompany Secretary and AdministratorChris Copperwaite / Laura Dunning | +44 (0) 1481 749700 |
| Investec Bank plcJoint Corporate BrokerTom Skinner (Corporate Broking)Lucy Lewis / Denis Flanagan (Corporate Finance) | +44 (0) 20 7597 4000 |
| Jefferies International LimitedJoint Corporate BrokerStuart Klein / Gaudi Le Roux | +44 (0) 20 7029 8000 |