Feb 27 (Reuters) - Canada Pension Plan Investment Board and Equinix have agreed to acquire Nordic data center operator atNorth from private equity firm Partners Group in a deal valued at about $4
CPP and Equinix Agree to Buy atNorth in $4 Billion Nordic Deal
Deal Overview and Strategic Rationale
Acquisition Announcement
Feb 27 (Reuters) - Canada Pension Plan Investment Board and Equinix have agreed to acquire Nordic data center operator atNorth from private equity firm Partners Group in a deal valued at about $4 billion, the companies said in a joint statement on Friday.
Ownership Structure and Financial Impact
CPP will invest roughly $1.6 billion for a 60% controlling stake, while Equinix will hold about 40%. The transaction is expected to be immediately accretive to Equinix's adjusted funds from operations upon completion.
atNorth Footprint Across the Nordics
atNorth operates eight data centres across Denmark, Finland, Iceland, Norway and Sweden with several additional sites under development.
Expansion Plans and AI-Driven Demand
The operator has secured 1 gigawatt of power for future expansion and plans a pipeline of roughly 800 megawatts over the next five years in a bid to meet Europe's increasing AI demand.
Partners Group Ownership Background
Partners Group acquired the business in 2022 for an undisclosed amount and has since supported its regional expansion.
Equinix and CPP Strategy
California-based data-centre operator Equinix has been expanding aggressively to capture rising demand for digital infrastructure, while CPP has been increasing its exposure to data-center assets.
Source and Credits
(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Mrigank Dhaniwala)
