🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Blackstone-led consortium nears $13.5 billion deal to acquire AirTrunk, source says

Published 09/02/2024, 01:59 AM
Updated 09/02/2024, 03:35 AM
© Reuters. FILE PHOTO: Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File photo
BX
-

By Kane Wu and Gnaneshwar Rajan

(Reuters) -A consortium led by Blackstone (NYSE:BX) is nearing a deal to acquire Australian data centre group AirTrunk for A$20 billion ($13.53 billion) including debt, a person with knowledge of the situation said on Monday.

Blackstone and its partner, the Canada Pension Plan Investment Board (CPPIB), emerged as the preferred buyer for AirTrunk, after outbidding a rival investor group, the person said, declining to be named as the information was private.

The deal could be announced in the coming days, the person said.

Bloomberg first reported the news on Monday, adding that AirTrunk owners Macquarie Group (OTC:MQBKY) and Canada's Public Sector Pension Investment Board are negotiating final details of a transaction.

Blackstone, CPPIB, Macquarie and PSP declined to comment.

Reuters reported last week that two bidding groups led by Blackstone and IFM Investors lodged final offers on Tuesday to buy AirTrunk.

The IFM-led consortium consists of DigitalBridge, GIP, Mubadala's MGX and Silver Lake.

© Reuters. FILE PHOTO: Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File photo

Macquarie and PSP own 88% of the data centre business but have not disclosed their individual stakes.

($1 = 1.4782 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.