GoDaddy €1.69 billion acquisition of Host Europe Group

Overview:

• GoDaddy reached an agreed to acquire Host Europe Group (HEG) for €1.69 billion from Cinven.  
• If the deal completes, the acquisition will be the biggest the Arizona-based internet domain and web hosting business has made.
• The transaction fee includes a payment of €605 million to HEG's sponsor and the assumption of the company's €1.08 billion debt. 
• GoDaddy has negotiated financing for the deal with lenders. 
• Cinven bought London based HEG for around £438 million in 2013. 
• Greenhill & Co acted as financial adviser to GoDaddy.
• The deal is expected to close by mid 2017. 

Ben Naylor - Regional Editor