BlackRock (BLK.US) and IFM are close to finalizing a $25 billion acquisition of Stack’s Asia-Pacific data centers.
According to informed sources, a consortium backed by BlackRock and IFM Investors Pty has entered exclusive talks for the potential acquisition of Stack Infrastructure Inc.'s Asia-Pacific data centers.
According to information obtained by Zhitong Finance APP, a consortium backed by BlackRock (BLK.US) and IFM Investors Pty has entered exclusive talks for a potential acquisition of Stack Infrastructure Inc.'s Asia-Pacific data centers.
The sources said the investor group—including AI Infrastructure Partners (AIP), backed by BlackRock, and IFM—is preparing to conduct due diligence on these assets. As the information is not public, the sources requested anonymity. According to them, this deal could value the group of assets at around $20 billion to $25 billion.
The sources stated that the bidding parties aim to reach an agreement with Stack's owner, Blue Owl Capital Inc. (OWL.US), as soon as possible. Previous reports indicated that Stack was considering selling these data centers, with AIP and IFM among the potential bidders. The sources also revealed that Blue Owl initially sought a valuation of over $30 billion for these assets.
The sources added that discussions are still ongoing and negotiations could either be prolonged or fall through.
As global funds seek to invest in sectors and regions benefiting from the rapid growth of AI, data centers and related infrastructure have become a hotspot for M&A activity in Asia.
The founders of AIP include BlackRock's Global Infrastructure Partners, Microsoft (MSFT.US), and MGX, backed by Mubadala Investment Co. The group aims to invest in and expand AI infrastructure. Its first deal was announced last October, with a $40 billion acquisition of Aligned Data Centers. NVIDIA (NVDA.US), Kuwait Investment Authority, and Temasek Holdings are also investors in AIP.
Representatives of BlackRock, GIP, IFM, MGX, Blue Owl, and Stack have not immediately responded to requests for comment.
According to Stack’s website, its Asia-Pacific data centers are located in Tokyo, Osaka, Melbourne, Sydney, and Johor Bahru, Malaysia.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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