Infratil’s data centre stake valuation up $466m
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The news: Infrastructure investor Infratil’s stake in data centre operator CDC has increased following an independent valuation.
The numbers: Infratil said its CDC stake was valued between $4.16 billion and $4.94 billion as at 30 June — an increase of $466 million since March-end.
Infratil owns 48.25% stake in CDC, which has been one of its most successful investments.
The context: The dual-listed Infratil said the increase in valuation reflects the updated CDC pipeline disclosed at the time of Infratil's $1.07 billion equity raising in June to partly fund the data centre operator’s growth.
CDC is currently in advanced negotiations with customers for over 400 megawatt (MW) of capacity across multiple sites, expected to come online over the next four to five years, including developing a new data centre campus in Sydney. CDC's FY25 full-year earnings guidance of $320 million to $330 million remains unchanged.
What they said: "This expanded pipeline demonstrates the favourable market tailwinds for data centres and the strong progress in CDC’s customer discussions," Infratil said.
The source: ASX announcement
