CBRE acquires Onnec for up to $1 billion, strengthening data centre business

✦ Meridian Analysis

CBRE Group has signed an agreement to acquire Onnec, a European data‑centre services provider, for a total consideration of up to $1 billion. The deal comprises an upfront payment of roughly $610 million, with a further $400 million tied to growth targets. Onnec is the target; no lenders or financing packages have been disclosed, nor have any advisers been named. Earlier, on 8 September, Cerberus sold Tenet equity to CBRE Investment Management for $1.6 billion (€1.4bn), as reported by Meridian. Deal professionals will be looking for details that remain undisclosed, including the specific performance metrics that trigger the earn‑out, the financing structure supporting the transaction, and the identities of legal and financial advisers. Information on regulatory clearances, the expected closing timetable and any post‑closing integration plans would also be material for assessing the full impact of the transaction on CBRE's data‑centre strategy.

The Meridian Weekly