NEXTDC row continues with APDC

Company News

by Rachael Jones

Data centre leader NEXTDC (ASX:NXT) and Asia Pacific Data Centres (ASX:AJD) are due back in court today.

In an ongoing row, NEXTDC allegedly would not allow independent valuers access to the three data centre sites in Sydney, Melbourne and Perth.

The NSW Supreme Court is due to hear the claim today that NEXTDC had agreed valuers could access the sites when there was an offer of more than $265 million on the table.

In March, there was a $280 million offer from an undisclosed buyer. The bid was subject to FIRB approval, indicating a foreign player was looking at the company. NEXTDC says that offer has since been withdrawn.

NEXTDC released a statement today saying their position remains that APDC has no right to interrupt NEXTDC’s exclusive possession by bringing in valuers onto the sites.

The case is on-going.

Shares in NEXTDC (ASX: NXT) 1.88 per cent higher at $6.78
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.