CenturyLink Sells Data Centers to Fund Level 3 Buy
CenturyLink agreed to sell its data centers and colocation business for $2.15 billion cash to a consortium led by London-based BC Partners and Medina Capital, it said in a Friday news release. CenturyLink also will get a minority stake valued…
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at $150 million in the consortium’s new global secure infrastructure company, it said. CenturyLink said the transaction will partly fund its acquisition of Level 3, announced earlier in the week (see 1610310033). The consortium will take CenturyLink’s 57 data centers, comprising 195 megawatts of power across 2.6 million square feet of raised floor capacity, the company said. The deal is expected to close Q1 2017, subject to regulatory OK by the interagency Committee on Foreign Investment in the U.S. and a Hart-Scott-Rodino antitrust review, CenturyLink said.