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Iron Mountain closes US assets sale required for Recall acquisition

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Iron Mountain closes US assets sale required for Recall acquisition

Iron MountainInc. closed the sale of certain records and information managementfacilities in the U.S. to Access CIG LLC for around $80 million.

The sale price is subject to readjustment, the company saidin a news release.

The assets were formerly owned by Recall Holdings Ltd., andthe sale was requiredin accordance with the U.S. Department of Justice's approval of Iron Mountain'sacquisition of Australia-based Recall, as reported earlier.

The assets are located in 13 cities, namely: Buffalo, N.Y.;Detroit; Greenville/Spartanburg, S.C.; Kansas City, Mo.; Nashville, Tenn.;Pittsburgh; Charlotte, Durham and Raleigh, N.C.; Richmond, Va.; San Antonio;San Diego; and Tulsa, Okla.

The company said that the sale represents its initial U.S.divestments, and that certain Recall facilities in Atlanta and Seattle, alsorequired to be sold off by the department of justice, are not included in thesale to Access CIG.

Iron Mountain closedthe Recall acquisition in a roughly $2 billion deal May 2, as reported earlier.

The U.K.'s Competition and Markets Authority found in areview that the deal will not result in substantial competition reductionoutside of Scotland, as reportedearlier. The company expects the review to result in substantially lower U.K.sales by the combined group than the estimated maximum.