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Keppel DC REIT to Acquire Two Japan Hyperscale Data Centers

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Keppel DC REIT (SGX:AJBU) has agreed to acquire an 88.62% effective stake in two freehold hyperscale data centers in Inzai City, Japan, from unrelated third-party sellers, according to a Tuesday filing with the Singapore Exchange.

The REIT will pay 168.4 billion yen for the stake out of the 190 billion yen aggregate consideration to purchase the properties.

Keppel Japan, an indirect wholly owned subsidiary of Keppel (SGX:BN4), will acquire an effective interest of 1.38%, while the remaining 10% in the data centers will be retained by the third-party operator.

The data center REIT will launch a private placement to raise gross proceeds of at least SG$600 million to help partly fund the deal. The REIT will issue 280.1 million new units at prices of between SG$2.096 and SG$2.142 apiece.

The transaction will also be financed using debt.

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