Cyxtera Receives Court Approval for Sale to Brookfield and Plan of Reorganization

Transaction positions company to increase data center facility ownership, pursue expansion opportunities that support robust customer demand, and drive next phase of growth

November 16, 2023

Colocation in Press Releases

MIAMI – November 16, 2023 – Cyxtera (OTC: CYXTQ) (“the Company”), a global leader in data center colocation, interconnection services, and digital infrastructure, today announced that the U.S. Bankruptcy Court for the District of New Jersey has approved the sale of substantially all of the Company’s assets to Brookfield Infrastructure Partners L.P. (NYSE: BIP, TSX: BIP.UN) and its institutional partners (collectively “Brookfield”) and will confirm Cyxtera’s Plan of Reorganization.

“We are pleased to be moving forward with our sale to Brookfield, which will provide Cyxtera with additional financial flexibility and enable us to benefit from Brookfield’s global infrastructure expertise,” said Nelson Fonseca, Cyxtera’s Chief Executive Officer. “Demand for our innovative data center services remains high, and we see significant opportunities ahead with our customers as we enter this next phase of growth.”

As previously announced on November 1, 2023, Cyxtera entered into an asset purchase agreement (“APA”) with Brookfield for a sale of substantially all of the Company’s assets. In connection with the APA, Brookfield entered agreements with certain of the Company’s landlords to purchase the real estate underlying seven of Cyxtera’s U.S. data centers. Additionally, Cyxtera amended the terms of its leases at three U.S. sites and three international sites to allow it to exit those sites in 2024. Collectively, these transactions will strengthen and optimize Cyxtera’s data center portfolio, better positioning it for the long term.

Fonseca continued, “Our partnership with Brookfield will strengthen our business, and we remain committed to ensuring the transition is as seamless as possible for all our stakeholders. We appreciate the continued support of our customers and partners throughout this process, and we thank our employees for their unwavering commitment to serving our customers.”

Cyxtera expects to complete the transaction with Brookfield, subject to regulatory approval and the satisfaction of customary closing conditions, and emerge from the court-supervised process in the first quarter of 2024.

Additional Information

Additional information regarding the Company’s court-supervised process is available at Court filings and other information related to the proceedings are available on a separate website administrated by the Company’s claims agent, KCC, at; by calling KCC toll-free at (877) 726-6510, or (424) 236-7250 for calls originating outside of the U.S. or Canada; or by emailing KCC at

Kirkland & Ellis LLP is serving as legal counsel to Cyxtera, Guggenheim Securities, LLC is serving as financial advisor, and AlixPartners, LLP is serving as restructuring advisor. Moelis & Co. is serving as exclusive financial advisor to Brookfield on the acquisition of Cyxtera. Wells Fargo and TD Securities are serving as joint financial advisors to Brookfield on the acquisition of the real estate underlying seven Cyxtera data centers and the pro forma combined entity, and are providing committed debt financing for the broader transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Brookfield’s legal counsel.

About Cyxtera

Cyxtera is a global leader in colocation, interconnection services, and digital infrastructure. With IT infrastructure becoming increasingly hybrid, complex, and distributed, Cyxtera continues to expand its portfolio beyond space and power to deliver more cloud-like and flexible infrastructure solutions across its global data center platform and robust partner ecosystem. Today, Cyxtera provides more than 2,300 enterprise and government customers with the technology solutions they need to scale faster, achieve financial goals, and gain a competitive advantage. For more information, please visit

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the federal securities laws. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Cyxtera’s control. Actual results and conditions (financial or otherwise) may differ materially from those indicated in the forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and conditions to differ materially from those indicated in the forward-looking statements, including, but not limited to, the risk that the transactions contemplated by the APA will not be consummated, or if they are consummated, that the transactions will not close within the anticipated time period or that the expected benefits of the transactions will not be realized when expected or at all; the risk that one or more conditions to closing under the APA cannot be satisfied; the occurrence of any event, change or other circumstances that could give rise to the right of Cyxtera or Brookfield to terminate the APA; the possibility that the transactions may be more expensive to complete than anticipated; risks and uncertainties relating to Cyxtera’s Chapter 11 cases (the “Chapter 11 Case”), including, but not limited to, Cyxtera’s ability to obtain Bankruptcy Court approval with respect to motions or other requests in the Chapter 11 Case, the effects of the Chapter 11 Case on Cyxtera and on the interests of various creditors, stockholders and other constituents; Bankruptcy Court rulings in the Chapter 11 Case and the outcome of the Chapter 11 Case in general; the length of time the Company will operate under the Chapter 11 Case; risks associated with third-party motions in the Chapter 11 Case; the potential adverse effects of the Chapter 11 Case on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the reorganization; uncertainty associated with evaluating and completing any strategic or financial alternative as well as Cyxtera’s ability to implement and realize any anticipated benefits associated with the alternative pursued; the impact of any challenge by creditors or other parties to previously completed transactions; the consequences of the acceleration of the Company’s debt obligations; and any other statements regarding plans, objectives, expectations and intentions and other statements that are not historical facts. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the “Risk Factors” disclosed in Cyxtera’s filings with the SEC from time to time. There may be additional risks that Cyxtera does not presently know of or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Cyxtera’s expectations, plans or forecasts of future events and views as of the date of this press release. Accordingly, you should not place undue reliance upon any such forward-looking statements in this press release. Neither Cyxtera nor any of its affiliates assume any obligation to update this press release, except as required by law.

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