Saughter and May is advising Canada Pension Plan Investment Board ("CPP Investments") and Equinix on their joint agreement to purchase atNorth from Partners Group at an enterprise value of c.US$4bn.
atNorth is a leading Nordic high-density colocation and built-to-suit data centre provider whose portfolio includes eight operational data centres alongside several sites under development across Denmark, Finland, Iceland, Norway and Sweden, as well as plans for further expansion. The acquisition further enhances CPP’s global data centre strategy and builds out its presence in Europe, and is complementary to Equinix's connectivity services and global footprint, enhancing its ability to help customers unlock the full potential of the Nordics' expanding digital landscape. Completion of the acquisition is subject to customary closing conditions, including regulatory approvals.
Saughter and May is also acting for Equinix in respect of its arrangements with CPP Investments. The joint venture will be owned c.60% by CPP Investments and c.40% by Equinix.