Blackstone-Led Consortium Nears $13.53 Billion Deal to Acquire AirTrunk

A consortium led by Blackstone is close to finalizing a deal to acquire Australian data center group AirTrunk for A$20 billion ($13.53 billion), including debt.

The consortium, which also has the Canada Pension Plan Investment Board (CPPIB), has emerged as the preferred buyer after outbidding a rival group of investors.

Competitors and Final Stages of Negotiation:

The Blackstone-CPPIB consortium outmaneuvered a competing bidding group led by IFM Investors, which included DigitalBridge, GIP, Mubadala’s MGX, and Silver Lake. The deal, which could be announced within days, is in the final stages of negotiation.

AirTrunk is primarily owned by Macquarie Group and Canada’s Public Sector Pension Investment Board (PSP), which holds 88% of the business. However, the specific stakes of Macquarie and PSP in AirTrunk have not been disclosed.

Background and Implications:

This acquisition reflects the ongoing interest in data center assets, which are becoming increasingly valuable as demand for data storage and cloud services grows.

If completed, this deal would represent a significant move in the global data center market and strengthen Blackstone’s and CPPIB’s presence in the technology infrastructure sector.

Responses from Involved Parties:

Blackstone, CPPIB, Macquarie, and PSP have all declined to comment on the ongoing negotiations, keeping the deal’s specifics under wraps until an official announcement.