(Bloomberg) — Brookfield Infrastructure Companions is weighing a minority stake sale in among the property of French knowledge heart operator Data4, in line with individuals with information of the matter.
Brookfield is working with Citigroup on searching for traders for Data4’s so-called stabilized property, which refer to completely constructed knowledge facilities with excessive and secure tenancy charges, the individuals mentioned.
The stabilized asset portfolio has a valuation of greater than €3.5 billion ($3.8 billion), mentioned one of many individuals, who requested to not be recognized as the data is non-public. Preliminary bids are anticipated in September, they mentioned.
Based in 2006, Data4 operates 35 knowledge facilities throughout six international locations in Europe, comprising France, Italy, Spain, Poland, Germany and Luxembourg, its web site reveals.
Brookfield Infrastructure purchased Data4 from AXA Funding Managers in 2023 for an undisclosed sum. Brookfield is hoping to recoup some money from the extra mature property to fund different knowledge facilities within the pipeline, one of many individuals mentioned.
Deliberations are at an early stage and Brookfield could determine in opposition to a deal, mentioned the individuals. Representatives for Brookfield and Citi declined to remark, whereas a consultant for Data4 didn’t instantly reply to a request for remark.
