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 is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.