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27 Feb 2026

Slaughter and May advises CPP Investments and Equinix on joint acquisition of atNorth from Partners Group

"Slaughter and May advised Canada Pension Plan Investment Board (CPP Investments) and Equinix on their joint agreement to acquire atNorth from Partners Group for an enterprise value of c. US$4bn. The deal creates a joint venture (c.60% CPP, c.40% Equinix) to operate atNorth's Nordic data centres; completion is subject to customary conditions and regulatory approvals."

Slaughter and May advised Canada Pension Plan Investment Board ("CPP Investments") and Equinix on their joint agreement to acquire atNorth from Partners Group. The parties have agreed an enterprise value of approximately US$4 billion. atNorth is a leading Nordic high-density colocation and built-to-suit data centre provider with a portfolio that includes eight operational data centres together with several sites under development across Denmark, Finland, Iceland, Norway and Sweden, and plans for further expansion. The acquisition strengthens CPP Investments’ global data centre strategy and European presence and is complementary to Equinix’s connectivity services and global footprint, enhancing Equinix’s ability to support customers as the Nordics' digital landscape expands. Completion of the acquisition is subject to customary closing conditions, including regulatory approvals. Slaughter and May also acted for Equinix in respect of its arrangements with CPP Investments. The joint venture will be owned approximately 60% by CPP Investments and 40% by Equinix. Slaughter and May represented clients CPP Investments and Equinix with a team composed by: Corporate and M&A: James Cook, Partner; Hemita Sumanasuriya, Partner; Ed Horner, Associate; Matthew Mortimer, Associate; Duncan McEwan, Associate. Real Estate, Power and Construction: Simon Bartle, Senior Counsel - Real Estate; Venetia Speke, Associate; Joshua Green, Associate; Michael Dolan, Associate; Annie Simm, Associate. Competition: Kerry O'Connell, Partner; Lorna Nsoatabe, Partner; Shweta Vasani, Senior Counsel; Madalina Secareanu, Associate; Alice White, Associate; Louise O'Callaghan, Associate; Steve Miller, Associate; Jack Eames, Associate. Tax: Mike Lane, Partner; Lauren Biggs, Associate. Financing: Samay Shah, Partner; Charlotte Burgess, Associate. TDDI: Richard McDonnell, Senior Counsel; Jack Higgins, Associate. ESG: Samantha Brady, Head of Environment and Climate Change; Remi Pfister, Associate.
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