Digital 9 Infrastructure PLC - London-based digital infrastructure investor - Agrees to acquire a 48% stake in Arqiva Group Ltd, a UK-based data, network and communications service provider. The acquisition will be funded through GBP300.0 million in cash and a GBP159.3 million vendor loan note. The cash component will be funded through the company's existing cash resources, including its revolving credit facility.
Chair Phil Jordan says: "Arqiva expands the company's exposure to wireless networks and will support the company's total return and yield targets as we continue to build a high-quality portfolio of scalable platforms and technologies."
Current stock price: 111.08 pence, down 2.0% on Monday
12-month change: down 1.4%
By Heather Rydings; heatherrydings@alliancenews.com
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Digital 9 (DGI9)