Zayo Group Holdings, Inc. (NYSE: ZAYO), which provides mission-critical bandwidth to the world´s most impactful companies, has announced the completion of its acquisition by affiliates of Digital Colony Partners (“Digital Colony”) and the EQT Infrastructure IV fund (“EQT” or “EQT Infrastructure”), the company said.
The close marks the consummation of the USD 14.3 billion transaction, which represents the largest syndicated private equity investment, the fifth largest Media & Communications LBO and the second largest LBO overall since 2008.
Under the terms of the merger agreement, which was approved by Zayo´s stockholders at a special meeting held on July 26, 2019, Zayo stockholders will receive USD 35 in cash per share of Zayo common stock. As a result of the transaction completion, Zayo is now a privately held company and its common stock has ceased trading on the NYSE.
Goldman Sachs and J.P. Morgan served as financial advisors to Zayo Group in connection with the transaction and Skadden Arps served as legal counsel. Morgan Stanley and Deutsche Bank acted as financial advisors to Digital Colony and EQT Infrastructure and Simpson Thacher served as legal advisor.
Zayo provides mission-critical bandwidth to the world´s most impactful companies, fueling the innovations that are transforming our society. Zayo´s 133,000-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. Zayo´s communications infrastructure solutions include dark fiber, private data networks, wavelengths, Ethernet, dedicated Internet access, and colocation services. For more information, visit zayo.com.
Digital Colony Management, LLC (“Digital Colony”) is the global digital infrastructure investment platform of Colony Capital, Inc. (NYSE: CLNY) and a investor, owner and operator of companies enabling the next generation of mobile and Internet connectivity. For more information, visit www.digitalcolony.com.
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. More info: www.eqtgroup.com.