DigitalBridge Establishes ÍslandsTurnar
December 14 2021 - 4:05PM
Business Wire
Combination of Two of Iceland’s Largest Tower
Portfolios from Sýn and Nova, Creating the First Scaled,
Independent Tower Company in the Country
DigitalBridge Group, Inc. (NYSE:DBRG) today announced that funds
affiliated with DigitalBridge Investment Management, the firm’s
investment management platform, (collectively “DigitalBridge”) have
completed the acquisition of the telecom tower portfolios of Sýn
hf. (Sýn) and Nova hf. (“Nova”), two leading Icelandic mobile
network operators (“MNOs”), creating ÍslandsTurnar (the
“Company”).
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ÍslandsTurnar is the first independent tower company of scale in
Iceland with national coverage to support the MNOs as they execute
their 5G deployment plans. Sýn and Nova are slated to be long-term
dual-anchor tenants on all of the Company’s towers and the
transaction includes a material BTS program. The investment
advances DigitalBridge’s expanding presence in the Nordics, as the
firm acquired Finland-based Digita Oy (“Digita”), an independent
tower operator with a national portfolio of sites, in 2018.
“The creation of ÍslandsTurnar is a unique opportunity to
establish a leading independent tower company in Iceland and
support both Sýn and Nova in their operation of high-quality mobile
networks as well as accelerating their 5G network deployment,” said
Marc Ganzi, President and CEO of DigitalBridge. “We are excited to
play a role in Iceland’s stable, attractive and digitally advanced
telecom market, bringing DigitalBridge’s deep experience of
successfully owning and operating tower portfolios on a global
basis.”
“This is an exciting opportunity to set up the first independent
tower company in my home market of Iceland. We are proud that two
anchor tenants of the caliber and technical experience of Sýn and
Nova have entrusted us with their mission-critical network
infrastructure. I am looking forward to working with DigitalBridge
to deliver high-quality telecommunication infrastructure services
in Iceland,” said Joakim Reynisson. Mr. Reynisson, an industry
veteran with more than 30 years of telecom experience, has been
appointed Chief Executive Officer of ÍslandsTurnar effective
immediately. Prior to this role, Mr. Reynisson was Chief Technology
Officer of Nova for over a decade.
Oakley Advisory acted as a financial advisor, Kvika acted as
debt arranger and Linklaters acted as legal counsel to
DigitalBridge throughout the transaction. Financial terms of the
transaction were not disclosed.
About DigitalBridge
DigitalBridge (NYSE: DBRG) is a leading global digital
infrastructure REIT. 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 a $40 billion
portfolio of digital infrastructure assets on behalf of its limited
partners and shareholders. Headquartered in Boca Raton,
DigitalBridge has key offices in Los Angeles, New York, London, and
Singapore.
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, without limitation, whether the Company will
realize any of the anticipated benefits from the combination, the
ability of the Company to expand its presence in the Nordics, and
other risks and uncertainties, including those detailed in the
DigitalBridge’s Annual Report on Form 10-K for the year ended
December 31, 2020, Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2021, June 30, 2021 and September 30, 2021, and its
other reports filed from time to time with the U.S. Securities and
Exchange Commission. All forward-looking statements reflect
DigitalBridge’s good faith beliefs, assumptions and expectations,
but they are not guarantees of future performance. DigitalBridge
cautions investors not to unduly rely on any forward-looking
statements. The forward-looking statements speak only as of the
date of this press release. DigitalBridge is under no duty to
update any of these forward-looking statements after the date of
this press release, nor to conform prior statements to actual
results or revised expectations and DigitalBridge does not intend
to do so.
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version on businesswire.com: https://www.businesswire.com/news/home/20211214006253/en/
Investors: Severin White Managing Director, Head of
Public Investor Relations (212) 547-2777
severin.white@digitalbridge.com
Media: Joele Frank, Wilkinson Brimmer Katcher Aura
Reihard / Jon Keehner (212) 355.4449 dbrg-jf@joelefrank.com
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