Digital 9 Infrastructure acquires Arqiva stake
June 27, 2022
By Colin Mann
Investment management body Canada Pension Plan Investment Board (CPP Investments) has agreed to terms with Digital 9 Infrastructure (D9) to sell its entire stake in UK broadcast and comms infrastructure provider Arqiva.
CPP Investments first acquired an approximate 48 per cent stake in Arqiva in 2009, making this one of the Fund’s longest-standing investments in the UK and in the global infrastructure portfolio to date.
“Since the initial investment, CPP Investments supported the company in its operational and financial transformation to adapt to the dynamic nature of the UK’s digital and broadcast infrastructure and we are confident the business will be well supported by both its new and existing investors,” said Scott Lawrence, Managing Director, Head of Infrastructure, CPP Investments. “With D9’s investment expertise in digital infrastructure, we feel they are well positioned to help deliver Arqiva’s ongoing strategy and ambitions.”
CPP Investments’ net proceeds from the transaction, after certain costs and adjustments, are expected to be approximately C$585 million (€430m).
The transaction is subject to customary conditions and regulatory approvals and is expected to complete in the second half of 2022.