Global Data Centre Group announces divestment of Etix Everywhere

Global Data Centre Group (ASX: $GDC) has announced the divestment of its co-controlled investment in Etix Everywhere, the European edge data centre platform, to Infranity Equity Fund SCA SICAV-RAIF for $175 million. The net proceeds from the divestment are forecasted to be $175 million, representing a 52% increase on the $115 million carrying value of the Etix investment at 31 December 2023. The Transaction is expected to close during the first quarter of FY25, subject to satisfying standard conditions precedent, including European regulatory approvals and approval through a GDC unitholder vote under ASX Listing Rule 11.2.

Lanrik Partners Managing Director comments on the divestment

It has been a pleasure to have supported Etix's growth since GDC's initial investment in December 2020. We are very pleased with the outcome of the Transaction, which is the second divestment in line with the Group's stated value realisation strategy.

Summary of the divestment and outlook

Global Data Centre Group (ASX: $GDC) has successfully divested its co-controlled investment in Etix Everywhere for $175 million, resulting in a 52% increase on the carrying value of the Etix investment at the end of 2023. The Group's realisation strategy continues to deliver positive outcomes, and the Transaction is expected to close in the first quarter of FY25, subject to regulatory approvals and unitholder vote. The company aims to continue taking advantage of the unique investment cycle by investing in digital infrastructure assets and businesses, targeting an internal rate of return of 10% per annum. Investors should note that this announcement contains forward-looking information and are cautioned not to place undue reliance on it.