Digital 9 Infrastructure, which invests in digital infrastructure assets, has now completed its first acquisition, has now completed its first acquisition, of 100 per cent of Aqua Comms DAC for cGBP160 million
Aqua Comms owns and operates some 14,300km of trans-Atlantic sub-sea fibre systems, representing the very “backbone” of the internet.
Aqua Comms’ assets are established, fully operational, and benefit from a long established customer base, particularly comprising the FAANGs, and other global content providers. D9’s investment manager, Triple Point Investment Management LLP (Triple Point or the Investment Manager) believes the platform has in-built further growth potential.
D9 is a London Stock Exchange listed investment trust, targeting an initial annualised 6p dividend yield (by reference to the issue price of 100p on IPO) for the first financial year. Following this acquisition, the Investment Manager now expects that this first year dividend will be over 100 per cent cash covered, with the first dividend of 1.5p to be paid in respect of the quarter ending 30 June 2021.
Source: Private Equity Wire
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