Stonepeak-backed Asia Pacific data centre firm Digital Edge has entered the Malaysian market with the acquisition of a MYR$346.6m (€74.6m) site from Crescent Corp Berhad (CCB).
The site measures almost 50 acres and is located in an industrial district in Kota Tinggi, in Johor, the southernmost state of peninsula Malaysia.
In a filing to the Malaysia stock exchange Bursa Malaysia, CCB said: “The disposal will provide the CCB group with the opportunity to realise a gain on disposal and unlock the value of the land at a reasonable price.
“To generate cash flows for development projects of CCB group and should opportunities arise, take advantage of land banking opportunities and joint ventures in other strategic locations.”
The company said MYR50m of the proceeds from the divestment would be used to pay down debt.
Stonepeak launched Digital Edge in 2020 to develop a data centre platform across the Asia Pacific region. Headquartered in Singapore, the firm secured debt and equity commitments totalling more than $1.6bn (€1.37bn) earlier this year to expand its regional footprint, which currently includes more than 20 operational data centres.
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