Rogers enters definitive deal to sell data centres

Executive Summary

• Rogers Communications Inc. has entered into a definitive agreement to sell its portfolio of nine Rogers Business data centres to InfraRed Capital Partners.
• The transaction is part of Rogers' broader strategy to sell real estate and non-core assets, with net proceeds designated for debt repayment.
• Rogers will continue to provide data centre services and network connectivity to the sold assets, ensuring a seamless transition for customers.

Key Details

• Transaction Structure: Definitive agreement to sell a portfolio of nine Rogers Business data centres.
• Buyer: InfraRed Capital Partners (part of Sun Life, a leading Canadian-based financial services company).
• Seller: Rogers Communications Inc.
• Use of Proceeds: Net proceeds from the transaction will be used to repay debt.
• Exclusions: The transaction explicitly excludes Rogers corporate data centres used for the company's network and IT purposes.
• Closing Conditions: Expected to close by year-end 2025, subject to customary closing conditions and regulatory approval.
• Post-Transaction Relationship: Rogers will continue to sell data centre services on behalf of InfraRed and provide network connectivity to the data centres.

Notable Quotes

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