Three shareholders in Morrison-backed CDC Data Centres (CDC) have signed a landmark deal to support its continued growth.
Future Fund and Infratil have agreed to acquire 12.04 percent of the ordinary shares of CDC from the Commonwealth Superannuation Corp. (CSC) through their preemptive rights, following an external sale process conducted by CSC.
Upon completion, Infratil, Future Fund and CSC will own 49.75 percent, 34.55 percent and 12.04 percent of CDC, respectively. The CDC management, led by CEO Greg Boorer as the largest individual shareholder, will retain 3.66 percent of shares.
The consideration represents an equity value of A$13.7 billion ($8.7 billion).
Morrison-managed Infratil and CSC originally invested A$800 million ($509 million) to acquire CDC in 2016. In 2019, Future Fund joined the shareholder group, acquiring a 24.1 percent stake from CSC. Since 2016, the business has grown significantly, expanding from an operating capacity of 30 megawa
