Asia Pacific Data Centre Group (ASX:AJD) has announced it has offered NEXTDC (ASX:NXT) the sale of its asset portfolio at $300 million.
NEXTDC is the tenant of each of APDC’s data centres, and, under the leasing terms, APDC must first offer them to NEXTDC on specified terms.
NEXTDC has 20 days under which to accept the offer.
If it fails to do so, APDC is free to sell the portfolio for $300 million or more.
Shares in Asia Pacific Data Centre Group (ASX:AJD) are trading flat at $2.00.