Cleary Gottlieb represented American Tower Corporation (American Tower) in its sale of an approximately 29% ownership interest in its U.S. data center business to certain affiliated investment vehicles of Stonepeak as part of a new long-term strategic partnership.
The transaction is valued at $2.5 billion, implying an enterprise value of approximately $10.5 billion for the U.S. data center business. The transaction was announced on July 11, 2022, and closed on August 8, 2022.
For more information, please see the press release here.
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets.