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SINGAPORE, March 17, 2021 /PRNewswire/ Ascendas Funds Management (S) Limited (the Manager ), in its capacity as the manager of Ascendas Real Estate Investment Trust ( Ascendas Reit ) (Singapore: A17U), is pleased to announce the Proposed Acquisition of a portfolio of data centres located across Europe (the Proposed Acquisition )[1], for S$904.6 million[2] ( Total Consideration ) from subsidiaries of Digital Realty Trust, Inc. ( Vendor ). The portfolio comprises 11 data centres (the Target Portfolio or Target Properties ) located across the United Kingdom ( UK ) (4 properties), the Netherlands (3 properties), France (3 properties) and Switzerland (1 property).
Located in London, the largest and most mature colocation data centre market in Europe, the two-storey Croydon (pictured) is one of the 11 European data centres that Ascendas Reit is acquiring. The DPU accretive acquisition marks the Reit’s maiden investment in European data
Ascendas Reit makes debut investment in European data centres for S$904 6 million
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Ascendas Reit makes debut investment in European data centres for S$904 6 million
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March 16 2021
A small increase in M&A activity was expected in Kuwait following a strong start to 2020. However, the COVID-19 pandemic had a significant negative effect on transaction volumes, with deals almost coming to a standstill during the second quarter of the year.
While it was expected that the gap between public and private M&A would continue to narrow over the recent Morgan Stanley Capital International (MCSI) upgrade reclassification of Kuwait from frontier market to emerging market , public M&A transaction volumes also reduced on account of the pandemic.
Moreover, the proposed takeover of Bahrain-based Ahli United Bank by Kuwait Finance House (KFH), the country s largest Islamic bank, was provisionally put on hold. The transaction had been expected to create the world s largest Islamic banking entity by asset value and continues to generate debate in GCC region. This transaction was visibly affected by the COVID-19 pandemic, as shareholders o