Digital 9 Infrastructure considers selling Verne Global stake

(Sharecast News) - Digital 9 Infrastructure said on Friday that it is assessing a potential divestment of its entire stake in Verne Global. The internet investor said it has received indicative offers from interested parties for the proposed transaction during the competitive process to syndicate a majority stake in Verne Global to a strategic capital partner. Executed terms are expected to be announced in the fourth quarter.

"Compared with the syndication, the board believes the proposed transaction would enable the company to accelerate its balance sheet deleveraging, deliver the cash resources necessary for the company and group to strengthen their position, and further maximise shareholder value," it said.

A further update will be provided in due course, Digital 9 added.

At 0910 BST, the shares were up 9.5% at 39.98p.