Cordiant Digital Infrastructure has announced plans to acquire Norkring België (Norkring) for €5.25 million ($5.59m).
Norkring is an operator of communication and broadcast towers in Belgium.
The company operates 25 towers in Belgium, and is also the holder of two digital audio broadcasting licenses and one digital terrestrial television multiplex license.
Cordiant will purchase the business from its current shareholders Telenor Communication II and Participatiemaatschappij Vlaanderen.
“This acquisition represents an opportunity to acquire assets and an experienced team that offers a quality near-term income proposition, provides a platform for further asset diversification in Western Europe, and comes with technology and knowhow that have the potential to benefit the development of Cordiant’s other portfolio companies,” said Steven Marshall, chairman at Cordiant Digital Infrastructure Group.
The deal is being funded through cash from Cordiant’s balance sheet and is subject to foreign direct investment approval in Belgium.
It is expected to be completed before the end of the company’s current financial year.
In August, Cordiant Digital Infrastructure entered into an agreement to acquire Speed Fibre from the Irish Infrastructure Fund for €190.5 million ($203m).
The company closed its acquisition of DataGryd last year, before renaming the company Hudson Interxchange. Cordiant has also acquired Ceské Radiokomunikace (CRA) from funds of Macquarie in the Czech Republic, as well as an undisclosed long-haul fiber-optic network based in Norway, and Polish digital infrastructure company Emitel.
