Six firms connect for KKR, Global Infrastructure Partners' CyrusOne buy

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Signage on the exterior of the building where law firm Cravath, Swaine & Moore LLP is located in Manhattan, New York City, U.S., August 17, 2020. REUTERS/Andrew Kelly

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  • Cravath, Venable, Eversheds Sutherland rep CyrusOne
  • Consortium's advisors are Kirkland, Dentons
  • Global Infrastructure Partners works with Paul Weiss, too

Nov 15 - Six law firms, including Cravath, Swaine & Moore and Kirkland & Ellis, have been tapped for KKR & Co Inc and Global Infrastructure Partners' $15 billion deal to take U.S. data center operator CyrusOne Inc private.

The companies announced the deal on Monday as remote work has ramped up business for cloud-based services and the data centers that support them.

News of the CyrusOne acquisition comes the same day that American Tower Corp said it would acquire data center operator CoreSite Realty Corp for roughly $10.1 billion, including debt, amid an industry-wide boom in M&A activity.

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Dallas-based CyrusOne is working with Cravath, Venable and Eversheds Sutherland on the deal.

The Cravath team providing mergers and acquisitions advice to CyrusOne is led by corporate partners Andrew Elken and Erik Tavzel, the firm said in an email.

The Eversheds team is led by M&A partner Anthony Cross.

On the other side of the deal, Kirkland and Dentons are collectively steering CyrusOne’s buyers.

The Kirkland team advising the consortium is led by corporate partners Andrew Calder, John Pitts, Melissa Kalka, Ben Hardison and Rami Totari.

The Dentons attorneys are led by real estate partners Perry Zizzi and Evan Lazar.

Global Infrastructure Partners has also turned to a Paul, Weiss, Rifkind, Wharton & Garrison team including M&A partners Matthew Abbott, Scott Barshay and Cullen Sinclair.

The acquisition is expected to close in 2022’s second quarter.

CyrusOne’s financial advisors are Morgan Stanley & Co LLC and DH Capital LLC. The consortium’s are Goldman Sachs & Co, Barclays, Wells Fargo Securities LLC, Citigroup and JPMorgan Chase & Co.

American Tower has contracted Cleary Gottlieb Steen & Hamilton to support the acquisition of CoreSite, which has paired with Wachtell, Lipton, Rosen & Katz.

Davis Polk & Wardwell is advising one of the financial advisers in that deal.

(UPDATE: This story has been updated with the name of the Eversheds attorney advising CyrusOne and with the advisers for the CoreSite Realty acquisition.)

Read more:

KKR, Global Infrastructure Partners to take CyrusOne private for $11.5 billion

Microsoft sees cloud business growth, but supply woes continue for Xbox

American Tower to buy data center operator CoreSite for $7.5 bln

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Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes.