Infratil Limited has agreed to acquire a 48% shareholding in Canberra Data Centres (CDC) for total cash equity consideration of A$392 million. The consideration includes estimated transaction costs of A$11 million and is subject to the normal completion adjustments for working capital and net debt. Subject to FIRB approval, the transaction is expected to settle in late July 2016.
The CDC investment will be managed by investment management firm H.R.L Morrison & Co on behalf of Infratil and Commonwealth Superannuation Corporation. Infratil and Commonwealth Superannuation Corporation will have 50/50 governance rights with Greg Boorer continuing on the Board.