KKR and GIP Complete Acquisition of CyrusOne
March 25 2022 - 4:11PM
Business Wire
CyrusOne Inc. (NASDAQ: CONE) (the “Company” or “CyrusOne”) today
announced the completion of its acquisition by funds managed by
KKR, a leading global investment firm, and Global Infrastructure
Partners (“GIP”), one of the world’s leading infrastructure
investors, in an all-cash transaction valued at approximately $15
billion, including the assumption of debt (the “Transaction”). The
Company also announced, effective today, that trading of its shares
of common stock has been suspended on the NASDAQ Global Select
Market (“Nasdaq”), and that CyrusOne has requested that its common
stock be delisted from Nasdaq.
“Closing this transaction begins an exciting new chapter for
CyrusOne as we continue our global expansion with the benefit of
significant resources and expertise that KKR and GIP are able to
provide to the Company and its customers,” said Dave Ferdman,
Co-Founder and President and Chief Executive Officer of CyrusOne.
“We are very well positioned to capitalize on the acceleration in
growth opportunities driven by strong underlying secular demand
trends and create substantial value for all of our
stakeholders.”
“We see significant opportunity ahead for CyrusOne to build on
its market leading position and impressive track record of
delivering state of the art data center solutions around the globe,
at a time when the world is increasingly dependent on them, at a
rapid pace,” said Waldemar Szlezak, Partner at KKR. “We look
forward to leveraging our global experience investing behind
digital infrastructure to, together with GIP, support CyrusOne’s
continued growth, and are excited to get started.”
Will Brilliant, Partner at GIP, added, “Secular growth in data
consumption globally has created tremendous opportunity for skilled
data center developers and operators to provide critical
infrastructure for their customers, including the world’s leading
technology companies. GIP is excited to partner with CyrusOne’s
management team and KKR, bringing our experience and deep resources
as a leading infrastructure investor and operator to support
CyrusOne’s differentiated global platform, which is well-positioned
to continue its strong momentum and to unlock significant
additional potential under its new sponsorship.”
Morgan Stanley & Co. LLC and DH Capital, LLC acted as
financial advisors to CyrusOne, and Cravath, Swaine & Moore LLP,
Venable LLP and Eversheds Sutherland (International) LLP acted as
its legal counsel.
Goldman Sachs & Co., Barclays, Wells Fargo Securities, LLC,
Citigroup and J.P. Morgan acted as financial advisors to KKR and
GIP, with KKR Capital Markets leading the structuring on the
financing. Kirkland & Ellis LLP and Dentons (UK & Europe)
acted as legal counsel to the acquiring consortium and KKR, and
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal
counsel to GIP.
CyrusOne also announced that in connection with the completion
of the Transaction, it has notified the Nasdaq Stock Market LLC of
its intention to voluntarily delist its 1.450% Senior Notes due
2027 (the “Notes”), as well as to deregister the Notes from
registration with the Securities and Exchange Commission.
About CyrusOne
CyrusOne (NASDAQ: CONE) is a premier global REIT specializing in
design, construction and operation of more than 50 high-performance
data centers worldwide. The Company provides mission-critical
facilities that ensure the continued operation of IT infrastructure
for approximately 1,000 customers, including approximately 200
Fortune 1000 companies.
A leader in hybrid-cloud and multi-cloud deployments, CyrusOne
offers colocation, hyperscale, and build-to-suit environments that
help customers enhance the strategic connection of their essential
data infrastructure and support achievement of sustainability
goals. CyrusOne data centers offer world-class flexibility,
enabling clients to modernize, simplify, and rapidly respond to
changing demand. Combining exceptional financial strength with a
broad global footprint, CyrusOne provides customers with long-term
stability and strategic advantage at scale.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and
on Twitter @KKR_Co.
About Global Infrastructure Partners
Established in 2006, Global Infrastructure Partners (GIP) is a
leading independent infrastructure fund manager that makes equity
and debt investments in infrastructure assets and businesses. GIP
targets investments in the energy, transport, digital
infrastructure, and water/waste sectors in both OECD and select
emerging market countries. Headquartered in New York, GIP operates
out of 10 offices: New York, London, Stamford (Connecticut),
Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong
Kong. GIP manages over US $81 billion for its investors. GIP’s
funds currently own 48 portfolio companies which have combined
annual revenues of c. US $40 billion and employ in excess of 63,000
people. Further information can be found on GIP’s website at
www.global-infra.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220324005891/en/
Investor Relations Michael Schafer Senior Vice President,
Finance 972-350-0060 investorrelations@cyrusone.com For KKR:
Cara Major (212) 750-8300 media@kkr.com For Global
Infrastructure Partners: +1 646-282-1545
mediainquiries@global-infra.com
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