Spark NZ to sell 75% of data centre business in deal valued at $419 million
Spark New Zealand said on Tuesday it will sell a 75% stake in its data centre business to Australian fund manager Pacific Equity Partners, valuing the business at up to NZ$705 million ($418.63 million).
The telecom company expects to receive approximately NZ$486 million in cash proceeds from the transaction.
The company said that bringing on Pacific Equity as a capital partner will secure funding for planned data centre capacity expansion.
