Canada’s PSP and EQT to buy Radius Global Infrastructure in $3bn deal

Canada’s Public Sector Pension Investment Board (PSP) has teamed up with EQT Active Core Infrastructure to buy telecommunications cell sites owner Radius Global Infrastructure in a $3bn (€2.8bn) deal .

The C$230bn (€160bn) Canadian investor and the EQT-managed fund are planning to take Radius private by offering the NASDAQ-listed firm’s shareholders $15 per share, a 28% premium to the stock’s last closing price prior to the announcement.

Radius owns and acquires digital infrastructure, including ground, tower, rooftop and in-building cell sites, in over 20 countries across North and South America, Europe, and Australia. The company owns a portfolio of 9,000 leases across nearly 7,000 sites.

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Based near Newcastle in northeast England, Sterling Pharma provides active pharmaceutical ingredient development and manufacturing services to the global biopharmaceuticals industry. It runs five facilities across the UK, US and Ireland, employing more than 1,300 people, according to its website.

Investors have been keen to expand in the sector as more big drugmakers outsource such functions. GHO invested in Sterling Pharma in 2019.

Source: BNN Bloomberg

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