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Digital 9 to sell stake in European data centre company Verne Global

Written by Wed 1 Nov 2023

UK infrastructure fund Digital 9 has announced its intention to sell its European data centre company Verne Global following shareholder pressure.

Digital 9 initially planned to sell a minority stake in the data centre firm. The investor is now set to sell its entire stake in the company.

Verne Global’s facilities offer 9.6MW in London, over 100MW in Iceland, and 25MW in Finland, which is expandable to 90MW.

The Board’s decision to prioritise the sale of 100% of Verne Global was seen as the best way to strengthen Digital 9’s position, accelerate its balance sheet deleveraging, improve cash flow, and maximise value for shareholders.

The company has received initial offers of interest from potential buyers or investors, and is currently finalising the transaction terms. Digital 9 plans to announce these terms in Q4 of 2023.

In 2021, Digital 9 purchased Verne Global for £231 million ($280 million) in cash. 

Verne Global also took over the management of the London Volta data centre in 2022. The transition aimed to provide better connections throughout northern Europe, specifically between Iceland and the UK.

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Written by Wed 1 Nov 2023

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