DigitalBridge Completes DataBank Recapitalization
- Successful recapitalization and deconsolidation of DataBank simplifies DigitalBridge's business profile and results in administrative savings.
- DigitalBridge shareholders maintain exposure to growth and value creation at DataBank.
- Recapitalization implies a 2.0x multiple of invested capital (MOIC) for DigitalBridge's ownership.
- None.
Achieves Key 2023 Objective with Successful Deconsolidation of DataBank
Marc Ganzi, CEO of DigitalBridge, said, “The successful recapitalization and deconsolidation of DataBank – one of our key 2023 priorities – will further simplify our business profile and result in administrative savings. We are also pleased that DigitalBridge shareholders, alongside new investors Swiss Life Asset Management, EDF Invest, and IMCO, will maintain significant exposure to the next phase of growth and value creation at DataBank, driven by strong AI-led demand for more data center power and capacity.”
In connection with the completion of the recapitalization, DigitalBridge will receive gross cash proceeds of
DataBank is the largest edge infrastructure operator in the
About DigitalBridge
DigitalBridge (NYSE: DBRG) is a leading global alternative asset manager dedicated to investing in digital infrastructure. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells and edge infrastructure, the DigitalBridge team manages over
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include the impact of AI on demand for more data center power and capacity, the accounting impact of the recapitalization and other risks and uncertainties, including those detailed in DigitalBridge’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, and its other reports filed from time to time with the
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Investors:
Severin White
Managing Director, Head of Public Investor Relations
(212) 547-2777
severin.white@digitalbridge.com
Media:
Joele Frank, Wilkinson Brimmer Katcher
Jon Keehner / Sarah Salky
(212) 355-4449
dbrg-jf@joelefrank.com
Source: DigitalBridge Group, Inc.