EQT, Public Sector Pension Investment Board To Buy Radius Global Infrastructure

By Dominic Chopping

STOCKHOLM--Swedish private-equity firm EQT AB said late Wednesday that together with Public Sector Pension Investment Board they have agreed to acquire Radius Global Infrastructure Inc. in a deal worth $3.0 billion.

Under the terms of the agreement, Radius shareholders will receive $15.00 a share in cash, EQT said.

Radius owns and acquires critical digital infrastructure, including ground, tower, rooftop and in-building cell sites, in over 20 countries across North and South America, Europe, and Australia.

"We believe Radius is well positioned to benefit from the market's growing need for critical digital infrastructure, accelerated by growing global mobile network data traffic, 5G densification of cell networks, IoT and new technologies," EQT said in a statement.

"Radius' sites serve as a critical element for cell tower and telecom companies and the company is poised to benefit from these tailwinds while generating value for stakeholders within the value chain."

EQT said the deal is the first transaction signed by EQT Active Core Infrastructure, which means that the fund has started charging management fees.

The transaction is expected to close in the third quarter of 2023.

Radius shares closed Wednesday at $13.90.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

03-02-23 0244ET