Cordiant Digital Infrastructure Limited (CORD) has announced its agreement to acquire Norkring België NV (Norkring), a company that operates 25 communication and broadcast towers in Belgium. The acquisition is valued at €5.25 million and will be funded from CORD's cash on its balance sheet. The transaction is subject to foreign direct investment approval in Belgium and is expected to be completed before the end of the current financial year. Norkring holds two DAB licenses and one DTT multiplex license, providing radio and TV broadcasting services as well as colocation and site-hosting to various operators. Norkring is also part of a consortium conducting trials using 5G broadcast technology. Steven Marshall, Chairman of Cordiant Digital Infrastructure Group, stated that the acquisition provides a near-term income proposition and a platform for further asset diversification in Western Europe.
CORD primarily invests in the core infrastructure of the digital economy, including data centers, fiber-optic networks, and telecommunication and broadcast towers in Europe and North America. The company has successfully raised £795 million in equity and €200 million through a Eurobond. CORD has made four acquisitions to date: CRA, Hudson Interxchange, Emitel, and Speed Fibre. Cordiant Capital Inc., the investment manager of CORD, specializes in digital infrastructure investments and manages infrastructure private equity and infrastructure private credit strategies for global insurance companies, pension plans, and family offices.
Norkring België NV operates 25 communication and broadcast towers in Belgium and holds two DAB licenses and one DTT multiplex license. The company provides radio and TV broadcasting services to commercial stations and distributors, as well as colocation and site-hosting to broadcasters, niche communications operators, and mobile network operators. Norkring is part of a consortium conducting trials using 5G broadcast technology, which is expected to offer additional services to broadcast and mobile operator customers.