APDC to pay $280m to keep stake in data centre locations

Company News

by Jessica Amir

Real estate investment trust, Asia Pacific Data Centre Group (ASX:AJD) has agreed to purchase three properties that are all leased to NEXTDC (ASX:NXT) for $280 million.

The properties are in Sydney, Melbourne and Perth and were initially planned to be sold for $300 million.

APDC’s terms are non-binding and represent a 32 per cent premium on the property portfolio’s last independent valuation.

If NEXTDC does not accept the offer in 20 business days, then the Asia Pacific Data Centre Trust may sell to a third party on more favorable terms.

All this comes as the company’s secretary resigned and was replaced by Jeannine Clark .

Shares in Asia Pacific Data Centre Group (ASX:AJD) last closed 2.87 per cent lower to $2.03.


Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.