CyrusOne announced the completion of its acquisition by funds managed by KKR, a global investment firm, and Global Infrastructure Partners, infrastructure investors, in an all-cash transaction valued at approximately $15 billion, including the assumption of debt. The company also stated that trading of CyrusOne shares of common stock is suspended on NASDAQ. CyrusOne’s common stock will be delisted from NASDAQ.
Biggest data center acquisition
During the transaction, Morgan Stanley & Co. LLC and DH Capital, LLC acted as financial advisors to CyrusOne. Cravath, Swaine & Moore LLP, Venable LLP, and Eversheds Sutherland (International) LLP acted as the company’s 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. Dave Ferdman, Co-Founder and President and Chief Executive Officer of CyrusOne said,
« 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. 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. »