Brookfield Infrastructure Partners L.P. (NYSE:BIP) along with its institutional partners entered into an asset purchase agreement to acquire Substantially All Assets from Cyxtera Technologies, Inc. (OTCPK:CYXT.Q) for approximately $780 million on October 31, 2023. The acquisition includes assumption of certain specified liabilities of the Cyxtera. Wells Fargo and TD Securities are providing committed debt financing for the broader transaction. The full terms of the asset purchase agreement have been filed with the U.S. Bankruptcy Court for the District of New Jersey. The hearing to approve the Company?s Chapter 11 plan and transaction with Brookfield is scheduled for November 16, 2023. In addition to court approval, the asset purchase agreement is subject to regulatory approval and customary closing conditions. As of November 16, 2023, the transaction was approved by the bankruptcy court. The transaction with Brookfield is expected to close in the first quarter of 2024.

Kirkland & Ellis LLP is acted as legal counsel to Cyxtera. Guggenheim Securities, LLC acted as financial advisor and AlixPartners, LLP is serving as restructuring advisor to Cyxtera. Wells Fargo Securities, LLC and Moelis & Co. is serving as exclusive financial advisor to Brookfield on the acquisition of Cyxtera. Ted Ackerman, Jacob Adlerstein, Salvatore Gogliormella, Brian Hermann, David Harris, Suhan Shim, Robert Zochowski, Cullen Sinclair, Christopher Dickson, Usman Arain, Mikhel Schecter, Claudia Tobler, Scott Sontag, Charles Googe, Andrea Wahlquist Brown, Reuven Falik, Ron Aizen, Steven Herzog, William O'Brien and Richard Elliot of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to Brookfield. TD Securities (USA) LLC acted as financial advisor to Brookfield Infrastructure Partners L.P. Weil, Gotshal & Manges LLP acted as a legal advisor to Digital Realty and Evercore Inc. (NYSE:EVR) acted as a financial advisor to Cyxtera Technologies, Inc.