Canberra Data Centres: Infratil, Commonwealth Super Corp strike takeover deal

Deal expected to be completed in late July

Image credit: Canberra Data Centres

Image credit: Canberra Data Centres

Infratil and the Commonwealth Superannuation Corporation have moved to jointly acquire Canberra Data Centres under a deal unveiled today.

New Zealand infrastructure investment corporation Infratil announced today that it would pay $392 million for a 48 per cent stake in the data centre provider.

Commonwealth Super will also acquire 48 per cent, with the CDC management team retaining 4 per cent of the company in a deal gives the data centre provider a base enterprise value of $1.075 billion.

The acquisition is subject to approval by the Foreign Investment Review Board. Completion is expected in late July.

“Broadly the data infrastructure sector has been of interest for a number of years now,” Infratil CEO Marko Bogoievski told a briefing on the acquisition.

“We’re really pleased to get this sort of access and this sort of quality of asset and management team in the Australian market,” Bogoievski said.

CDC currently has three data centres with a total capacity of around 30 megawatts and is eyeing a further 27MW. The company’s fourth data centre is currently under construction

Infratil and Commonwealth Super will have 50-50 governance rights. CDC founder and CEO Greg Boorer will continue on the company’s board.

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