Digital 9 Infrastructure to sell stake in Verne Global

UK infrastructure fund Digital 9 Infrastructure has announced its intentions to sell its European data center company Verne Global amid shareholder pressure. Initially, the company announced plans only to sell a minority stake. However, it revealed last week that it intends to sell its entire stake in the company, which operates facilities in the UK, Finland, and Iceland.

D9 said in an announcement last week, “After careful consideration of the feedback received during the shareholder consultation, among the actions the Board is assessing is a divestment of the company's entire stake in the Verne Global group of companies.”

The infrastructure investor also noted that it received some offers from prospective buyers during a competitive process to syndicate a majority stake in Verne Global to a strategic capital partner. The D9 Board believes the new deal would strengthen the company’s position and “further maximize” shareholder value.

The buyer was not named, and terms of the deal are expected to be announced before the end of the year.