In a significant move within the digital infrastructure sector, The Future Fund and Infratil have secured a 12.04% stake in CDC Data Centres from the Commonwealth Superannuation Corporation (CSC) for over $13 billion. This transaction marks the largest deal of its kind since AirTrunk’s $24 billion sale to Blackstone last year.
Key Details of the Deal
The Future Fund will nearly double its direct stake, acquiring an additional 10.46%, bringing its total ownership in CDC to 34.55%. Meanwhile, Infratil’s stake will increase to 49.75%.
While CSC has reduced its holding, it retains a 12.04% share in the company. Greg Boorer, CDC’s CEO, did not sell any of his personal 3.66% stake.
The Deal Process
The acquisition follows an international auction process managed by Barrenjoey Capital Partners. CDC Data Centres, founded in 2007 by Boorer, has emerged as a key player in the Australian and New Zealand digital infrastructure markets, driven by the increasing demand for AI and cloud computing services.
With a total capacity of 2.5GW across its operational, under-construction, and development pipelines, CDC is well-positioned to capitalize on ongoing technological advancements. In the last financial year, the company reported an after-tax profit of $201.6 million, with earnings expected to rise to approximately $330 million for the 12 months leading up to March 31, as per reports from The Australian Financial Review.
What’s Next for CDC
The deal, pending approval by the Foreign Investment Review Board, is expected to close in the second half of 2025.
Greg Boorer commented on the strategic importance of the new stakeholders, stating, “With the most strategic shareholders in our corner, this transaction positions CDC perfectly to execute on our plans. The long-term vision and commitment of these shareholders mean that CDC is well-positioned to drive sustainable growth in the key markets we serve.”
In summary, this transaction represents a pivotal moment for CDC Data Centres, further strengthening its position as a leader in the digital infrastructure space across Australia and New Zealand. The partnership with Future Fund and Infratil sets the stage for the company’s continued expansion and long-term growth.
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