Australia’s sovereign wealth fund has boosted its stake in Canberra Data Centres, the largest provider of data centre services to the federal government, in a transaction that values the company at $17 billion.
The Future Fund reached an agreement on Monday to acquire almost half of the Commonwealth Superannuation Corporation’s 24.08 per cent share of the data centre company at a cost of $1.78 billion.
The move, which is the second time in the past six years that the government’s investment fund has bought out CSC’s shares in the company, lifts its equity holding in CDC by 10.46 per cent to 34.55 per cent.
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