GTT Communications To Buy Interoute For About $2.3 Bln In Cash

(RTTNews) - GTT Communications Inc. (GTT) said that it agreed to acquire Interoute, operator of one of Europe's largest independent fiber networks and cloud networking platforms, for about 1.9 billion euros or $2.3 billion in cash.

GTT said it received committed debt financing for the transaction from a group of financial institutions and committed equity financing of $250 million from GTT's largest institutional investor, The Spruce House Partnership, and Acacia Partners.

GTT expects the transaction to close in three to six months, subject to customary regulatory approvals.