Brookfield agrees to acquire France's data centre firm Data4

Brookfield Infrastructure

11/04/2023 11:32

LONDON, April 11 (Reuters) - French asset manager AXA IM
said on Tuesday it has agreed to sell its stake in French data
centre firm Data4 to Brookfield Infrastructure  BAM.TO  for a
undisclosed amount. 
    For Brookfield, the deal marks its entrance into the
European data centre market with an eye to expansion, the unit
of France's insurer AXA  AXAF.PA  said in the statement.
    The deal is likely to value the data centre operator at
close to 3.5 billion euros ($3.8 billion) including debt, people
familiar with the matter told Reuters last month.
    AXA AM said it will continue to actively seek acquisition
and development opportunities in sectors related to the storage
and communication of data. 
    Headquartered in Paris, Data4 operates 31 data centres
across six countries including France, Italy, Spain and
Luxembourg. Its customers include cloud operators and companies.
    AXA AM acquired Data4 in 2018 for an undisclosed sum.

 (Reporting by Amy-Jo Crowley and Andres Gonzalez, editing by
Kirsten Donovan)
 ((Amy-Jo.Crowley@thomsonreuters.com;))