A consortium backed by BlackRock and IFM Investors has entered exclusive talks to acquire Stack Infrastructure’s data center portfolio in the Asia-Pacific region in a deal that could value the assets at between $20 billion and $25 billion, Bloomberg News reported.
The investor group includes the BlackRock-backed Artificial Intelligence Infrastructure Partnership (AIP) and IFM. It is preparing to conduct due diligence on the assets and aims to reach an agreement with Stack’s owner, Blue Owl Capital, according to people familiar with the matter.
Stack operates data centers in major Asia-Pacific markets including Tokyo, Osaka, Melbourne, Sydney and Johor Bahru, Malaysia. The portfolio has attracted significant investor interest as demand for data center capacity continues to rise alongside artificial intelligence, cloud computing and digital services.
The talks are ongoing and could be prolonged or ultimately fail to result in a transaction. Reuters said it could not immediately independently verify the Bloomberg report, while the companies involved did not immediately respond to requests for comment.
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