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Rogers will continue to sell connectivity and data centre services into the facilities
Proceeds will be used to pay down debt
Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI) today announced it has entered into a definitive agreement with InfraRed Capital Partners to sell its portfolio of nine Rogers Business data centres.
Rogers will continue to sell data centre services on behalf of InfraRed and will provide network connectivity to the data centres.
InfraRed is part of Sun Life, a leading Canadian-based financial services company, and is an experienced digital infrastructure owner. Both organizations will work to ensure a seamless transition for Rogers Business customers.
The transaction is part of Rogers planned sale of real estate and non-core assets. Rogers intends to use the net proceeds from the transaction to repay debt. The transaction is expected to close by year end 2025, subject to customary closing conditions and regulatory approval.
The transaction does not include Rogers corporate data centres used for the company's network and IT purposes.
Forward-Looking Statements
This news release includes "forward-looking information" within the meaning of applicable securities laws relating to, among other things, Rogers maintaining a retail presence in the facilities and providing network connectivity to the facilities post-closing, our intended use of proceeds from the transaction, the closing of the transaction on the terms described in this news release and the expected timing of the closing of the transaction. Forward-looking information may in some cases be identified by words such as "will", "anticipates", "expects", "intends" and similar expressions suggesting future events or future performance.
We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. Any forward-looking information contained in this news release represent expectations as of the date of this news release and is subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.
Forward-looking information is provided herein for the purpose of giving information about the transaction and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes. The completion of the transaction is subject to closing conditions, regulatory approval, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the transaction will occur, or that it will occur on the terms and conditions contemplated in this news release. The transaction could be modified, restructured or terminated.
About Rogers Communications Inc.
Rogers is Canada's leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.
For more information:
Investor Relations
investor.relations@rci.rogers.com
1-844-801-4792
Media
media@rci.rogers.com
1-844-226-1338
