CPP Investments and Equinix complete acquisition of atNorth
CPP Investments and Equinix have completed a $4 billion acquisition of Nordic data centre operator atNorth, with CPP committing $1.3 billion for roughly 51% and Equinix committing $895 million for roughly 34%, while Partners Group reinvested for about a 10% stake. The transaction is supported by a €3.6 billion financing package underwritten by European and Canadian lenders to fund the acquisition and atNorth's continued expansion. atNorth operates eight centres and has four large-scale sites plus additional metro and development sites across Sweden, Finland, Norway and Denmark focused on AI, cloud and high-performance computing with renewable power and heat-reuse technology.
CPP Investments gains controlling stake in atNorth
Context
The purchase was announced earlier in the year and has now closed. atNorth has since won new hyperscale contracts and added a Norway site. The new owners may drive faster build-out of the development pipeline.
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