Australian data centre company NextDC has offered AU$172mn to buy the property trust that owns three of its data centres.
Asia Pacific Data Centre Group (APDC) owns sites in Sydney, Melbourne and Perth, with NextDC already buying 19.9% of its shares for around $41mn. 360 Capital owns a similar stake and is said to also be interested in acquiring the rest of APDC.
NextDC CEO Craig Scroggie said: “The offer is highly attractive and represents compelling value for APDC security holders with the additional benefit of certainty. We are making this offer to APDC security holders because we believe that we are the logical owner of the APDC data centres in the current circumstances.”
The $172mn offer is an unconditional all-cash proposal, pricing all remaining shares in APDC at $1.87.
360 Capital had earlier made an offer which priced shares at $1.80. The company said it will consider its position in light of NextDC’s bid.
NextDC would look to integrate the three sites into its own portfolio having relinquished them four years ago, and would also add its own management team and remove APDC from the Australian Stock Exchange.