Digital 9 Infrastructure’s proposed sale of Verne Global has been delayed after the Icelandic regulator opened a ‘Phase II’ investigation into the deal.
In a stock exchange announcement this morning, the trust’s board said completion of the sale could be delayed by up to 135 working days.
The trust is in the process of selling its stake in Verne, a British data company, to Paris-based private equity investment firm Ardian France in a £456m deal. Verne owns a data centre in Iceland.
The proposed sale was first announced in October, with the Digital 9 board anticipating the transaction to complete by the end of Q1 2024.
However, the regulatory investigation will last for a period of up to 90 days, which can be extended to 135 days if necessary, likely meaning the deal will be completed later than expected.
At the end of January, the Digital 9 board announced its intention to wind down just three years after launching, following a strategic review.