An investor group, comprising of the Ontario Teachers’ Pension Plan, Providence Equity Partners and Madison Dearborn Partners LLC, and BCE Inc.(Bell) have announced an agreement to acquire 100 percent of Canadian data centre operator, Q9 Networks Inc., for $1.1 billion.
Under the agreement, Teachers, Providence and Madison Dearborn will contribute 70 percent, or $420 million, of the equity funding and Bell will provide the remaining 30 percent equaling to $180 million.
The transaction is expected to close before the end of 2012, subject to regulatory approval and customary closing conditions.
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