Cyxtera Receives Court Approval for Sale to Brookfield and Plan of Reorganization
Summary
MIAMI--(BUSINESS WIRE)--Cyxtera (OTC: CYXTQ) (“the Company”), a global leader in data center colocation, interconnection services, and digital infrastructure, today announced that the U.S. Bankruptcy Court for the District of New Jersey has approved the sale of substantially all of the Company’s assets to Brookfield Infrastructure Partners L.P. (NYSE: BIP, TSX: BIP.UN) and its institutional partners (collectively “Brookfield”) and will confirm Cyxtera’s Plan of Reorganization. In connection with the APA, Brookfield entered agreements with certain of the Company’s landlords to purchase the real estate underlying seven of Cyxtera’s U.S. data centers. Wells Fargo and TD Securities are serving as joint financial advisors to Brookfield on the acquisition of the real estate underlying seven Cyxtera data centers and the pro forma combined entity, and are providing committed debt financing for the broader transaction. Today, Cyxtera provides more than 2,300 enterprise and government customers with the technology solutions they need to scale faster, achieve financial goals, and gain a competitive advantage. In addition, forward-looking statements reflect Cyxtera’s expectations, plans or forecasts of future events and views as of the date of this press release.