Australian law firm Allens is advising Global Switch on the sale of its Australian data center operations to alternative asset manager HMC Capital for $1.3 billion.
Australian stock market-listed HMC Capital pays $1.3 billion for Global Switch Australia, which owns two data centers in Sydney, offering HMC significant growth opportunities with large development pipeline It is said that it will.
Global Switch Australia has operated as an independent and independent business since December 2016, subject to ring-fencing arrangements to comply with Australian foreign investment laws. Mr. Arens said these surrounding arrangements and the resulting division of economic and legal ownership of the assets significantly complicated the transaction.
“We are pleased to have the opportunity to help Global Switch and GSA navigate these complexities and achieve such great results,” said Allens Partner Wendy Ray, who led the transaction. he said in a statement.
Baker McKenzie is representing HMC Capital, according to a person familiar with the transaction. The company declined to comment.
The Allens team advising on the transaction includes mergers and acquisitions and capital markets partners Ray and Kylie Brown, real estate partner Eugene Tan, project partner Daniel Jones, and banking and finance partners Michael Ryan and Lisa Ryan. They include Chow, employment partner Simon Dewberry and intellectual property partner Tracy. Lu and tax partner Ellen Thomas.
“Data center sales have dominated M&A activity in recent months as part of a broader surge in capital into digital infrastructure assets in Australia,” Mr Ley said.
Earlier this month, Arens advised TPG Telecom to sell its fiber network and fixed-line businesses to telecommunications network provider Vocus for $3.5 billion.
Last month, Simpson Thatcher & Bartlett and King & Wood Mallesons represented private equity giant Blackstone in its $16 billion acquisition of Australian data center operator AirTrunk, with Baker McKenzie acting as the seller. acted as an agent.
