Exclusive: EQT, Digital Colony, Stonepeak group near deal to buy Zayo, sources say

REUTERS: A consortium including investment firms Digital Colony Partners LP, EQT AB and Stonepeak Infrastructure Partners has secured exclusive rights to negotiate a deal to buy U.S. communications infrastructure provider Zayo Group Holdings Inc, people familiar with the matter said on Wednesday.

After rejecting multiple offers from private equity bidders over the last few months, Zayo agreed to negotiate with the consortium exclusively after it received an offer it deemed attractive enough, the sources said.The exact offer could not be learned, but sources said it would value Zayo at between US$8 billion and US$9 billion, excluding US$5.9 billion in long-term debt. The consortium is in the process of finalizing debt financing for its bid, the sources added.

If negotiations conclude successfully, a deal could be announced later this month, the sources said, cautioning no agreement is certain. They asked not to be identified because the matter is confidential.Advertisement

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