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MGX, the Abu Dhabi-based technology investment company founded by the state-backed Mubadala and G42, is reportedly making a play for Australia’s hyperscale data centre AirTrunk in a sale exceeding A$20 billion dollars ($12.87 billion).
MGX has reportedly joined a consortium led by IFM Investors, DigitalBridge, Silver Lake Management, and Global Infrastructure Partners (GIF) to bid for AirTrunk, in what is being called as one of the largest digital infrastructure transactions in Asia Pacific, according to a report by news daily, the Australian Financial Review (AFR). Jefferies bankers have been tending to MGX as well as Californian tech investor Silver Lake.
Abu Dhabi’s $100 billion artificial intelligence-focused investment vehicle was set up in January to invest in AI infrastructure such as data centres, semiconductors, and AI core technologies.
AirTrunk is owned by Australia’s Macquarie Group and Canada’s Public Sector Pension Investment Board (PSP).
Asia Pacific, including Japan, have led dealmaking activities in the global data centre market this year. In 2023, the region’s data centre deals hit a record high of $3.45 billion, according to LSEG data.
(Writing by Bindu Rai, editing by Seban Scaria)