Keppel Infrastructure Trust sells majority stake in DataCentre One to Keppel DC REIT
CityDC, a unit of Keppel Infrastructure Trust, is selling its 51% stake in DataCentre One to Keppel DC REIT for a consideration of US$102.9 million.
DataCentre is a joint-venture company formed by CityDC and WDC in 2014 that developed, built, and lease the 1-Net North Data Centre, a five-storey purpose-built facility located just outside the Woodlands Regional Centre. The 1-Net North Data Centre facility is approximately valued at US$200.2 million.
Once the transaction is completed, KIT's earnings per unit for the financial year ending 31 December 2019 is expected to rise.
Keppel DC REIT is also set to acquire the remaining 49% held by WDC Development in DataCentre.
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