CyrusOne to go private in $15 billion deal with KKR, Global Infrastructure Partners

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FILE PHOTO: Trading information for KKR & Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, August 23, 2018. Businesshala/Brendan McDermid/File photo
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(Businesshala) – US data center operator CyrusOne Inc said on Monday it would be bought by KKR & Co Inc and Global Infrastructure Partners (GIP) in a deal worth about $15 billion, including debt.

The buyout is the latest deal in the data-center space, with Blackstone buying QTS Realty Trust Inc. for $10 billion in June.

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KKR and GIP will pay $90.50 in cash for each Cyrusavan share, which represents a 5.9% premium over the company’s closing price on Friday.

Businesshala reported in September that Dallas-based CyrusOne was working with investment bank Morgan Stanley to explore strategic options, including a potential sale.

Cyrusavan said the deal is expected to be completed in the second quarter of 2022.

Reporting by Nathan Gomes in Bengaluru; Editing Aditya Soni

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