DBRG - Brookfield Infrastructure Ontario pension fund to buy Compass Datacenters

2023-06-20 09:32:55 ET

• Brookfield Infrastructure Partners ( NYSE: BIP ) and existing investor Ontario Teachers' Pension Plan will acquire Compass Datacenters from RedBird Capital Partners and the Azrieli Group, according to a joint statement on Tuesday.
• While the parties did not disclose the purchase price, it was earlier reported that the deal could be worth more than $5.5B, including debt.
• Chris Crosby, Compass' founder and CEO, and the firm's current management team will continue to lead the business once the deal closes.
• The new ownership structure will provide Compass with operational and financial support to expand across regions.
• "Digitalization remains a key thematic investment for Brookfield Infrastructure ( BIP )," said its CEO Sam Pollock. "The need for data storage continues to grow at an exponential rate across the globe, and Compass complements our existing platforms in South America, Europe and Asia Pacific."
• The deal is expected to close by year-end.
• Earlier, Brookfield Infrastructure Partners ( BIP ) and DigitalBridge ( DBRG ) were competing to acquire Compass.

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