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Brookfield Infrastructure Partners to Acquire Cyxtera Assets
- Client News
- November 1, 2023
Paul, Weiss is advising Brookfield Infrastructure Partners L.P. and its institutional partners in the $775 million acquisition of substantially all of Cyxtera’s assets. Cyxtera, which filed for Chapter 11 on June 4, is a global leader in data center colocation, interconnection services and digital infrastructure.
In connection with the Cyxtera asset purchase agreement, Brookfield will separately purchase from several landlords the real estate at which seven of Cyxtera’s U.S. data centers are located.
The asset purchase agreement, filed with the U.S. Bankruptcy Court for the District of New Jersey, is subject to court approval, regulatory approval and other customary closing conditions. The transaction with Brookfield is expected to close in the first quarter of 2024.
The Paul, Weiss team is led by partners Ted Ackerman, Jacob Adlerstein, Salvatore Gogliormella and Brian Hermann and counsel David Harris, and includes corporate partners Suhan Shim, Robert Zochowski and Cullen Sinclair and counsel Christopher Dickson, Usman Arain and Mikhel Schecter; restructuring counsel Claudia Tobler; tax partner Scott Sontag; intellectual property partner Charles Googe; executive compensation partner Andrea Wahlquist Brown and counsel Reuven Falik and Ron Aizen; litigation counsel Steven Herzog; environmental counsel William O'Brien; and international trade counsel Richard Elliott.