7 April 2021
We have advised Digital 9 Infrastructure plc (DGI9) on its £300m initial public offering on the Specialist Fund Segment of the London Stock Exchange and on its £160m acquisition of Aqua Comms.
Aqua Comms is a platform that owns and operates approximately 14,300km of trans-Atlantic subsea fibre - representing the very “backbone” of the internet.
DGI9 will invest in further digital infrastructure assets, including subsea and terrestrial fibre, data centres, tower infrastructure and small cell networks (including 5G), and has implemented a £750 million placing programme to fund the near-term pipeline.
DGI9’s investment manager is Triple Point Investment Management LLP, an experienced manager with over £2 billion of private, institutional, and public capital and has extensive experience in asset and project finance, portfolio management and structured investments.
Akur Limited acted exclusively as Financial Adviser for Digital 9 Infrastructure plc and J.P. Morgan Cazenove acted as Global Coordinator and Sole Bookrunner on the IPO.
Commenting on the deal, Taylor Wessing corporate partner Will Belcher, said: "We are delighted to have advised Digital 9 Infrastructure on its successful IPO and acquisition of Aqua Comms. Our involvement demonstrates Taylor Wessing's extensive experience in capital markets and M&A work in this sector."
The deal required expertise drawn from across the firm's corporate, tax and incentives, financial services regulatory, telecoms, real estate and technology teams.
The team was led by corporate partner Will Belcher with the support of Charlotte Chambers, Amy Coburn, Katie Fellows, Joe Cooper, Kevin Howard, Nicole Ng Yuen and Shaun Brewster (corporate), Liz Wilson and Madison Lawler (tax), Lauren Clarke and Katie Fry-Paul (financial services regulatory), Alan Evans and Louise Tobutt (real estate) and Angus Finnegan (telecoms).