Bloomberg Law
June 21, 2022, 2:11 PM UTCUpdated: June 21, 2022, 7:13 PM UTC

Three Firms Help DigitalBridge Sell $1.2 Billion DataBank Stake (Correct)

Rick Mitchell
Rick Mitchell
Freelance Correspondent

Wachtell Lipton advised DigitalBridge Group, Inc., a digital infrastructure investor and operator, on its agreement to sell a $1.2 billion stake in data center platform DataBank.

Under the agreement, existing investors will sell a 27% stake in DataBank to affiliates of Swiss Life Asset Management AG and EDF Invest.

Proskauer Rose is advising DataBank, while Vinson & Elkins is counseling Swiss Life Asset Managers, according to a statement.

DataBank has more than 65 data centers, 20 interconnection hubs in more than 27 markets, that function as “on-ramps” to an ecosystem of cloud providers. Its customers include the world’s biggest companies, ...

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