Digital Realty and Goodman buy 9.9% NEXTDC stake
Key points
- Digital Realty and Goodman Group completed the acquisition of a 9.9% stake in NEXTDC.
- The buyers purchased the target shares at an average transaction price of $9.22 per share.
- Both companies stated that they seek potential collaboration with NEXTDC management while holding no present intention to make a takeover offer.
Digital Realty (NYSE:DLR) and Goodman Group (ASX:GMG) acquired a 9.9% joint interest in NEXTDC (ASX:NXT) at an average purchase price of $9.22 per share.
The purchase follows an initial aftermarket bookbuild where the consortium offered up to $9.50 per share to secure the stake.
The companies stated that Digital Realty and Goodman have neither formed nor made any agreement regarding potential further engagement beyond this share acquisition.
Both parties stated that they have no present intention of making a control proposal or takeover offer but reserve their right to do so should circumstances change.
Following the announcement, the NEXTDC share price was up at $10.41.
The transaction was executed equally through a 50:50 special purpose investment vehicle jointly funded by the two property and infrastructure operators.
Both groups stated that they plan to consult with the board to address operational and capital challenges facing the Australian data center operator.
Frequently asked questions
More from Australia
Karoon Energy faces extended 12% Brazil export tax
Memphasys secures New Zealand deal for 1,200 cartridges
Pursuit Minerals signs US$40M EcoPro lithium deal
Codan to acquire Eventide Communications for 100% control
Ansell maintains 14% profit growth target
WiseTech makes 2 key corporate governance appointments
