CORD to acquire Emitel in Poland
The Cordiant Digital Infrastructure (CORD) has announced that it has received regulatory approval for the GBP360 million (US$412 million) acquisition of the second large, diversified digital infrastructure platform Emitel in Poland.
The CORD's acquisition of Emitel is in line with the company's Buy, Build and Grow strategy and offers the potential to create additional value and generate additional attractive returns for shareholders. Emitel has consistent year-over-year growth and approximately 75% of the company's revenues have either full or partial Consumer Price Index (CPI) inflation linkages. Emitel's revenue for the fiscal year 2021 is PLN486 million (US$103 million), while EBITDA is PLN319 million (US$68 million).
The deal is expected to close in mid-November 2022, subject to full utilization of CORD’s Eurobond facility of EUR200 million (US$200 million) announced in June 2022, EUR80 million (US$80 million) of which was conditional on the closing of the acquisition.
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