Mapletree Industrial Trust (MINT) has entered into a sale and purchase agreement to acquire 29 data centres in the US for a purchase consideration of US$1.32 billion ($1.78 billion).

The data centres, located across 18 states, are being purchased from vendor Sila Realty Trust.

Following the acquisition, MINT’s assets under management (AUM) will increase from $6.8 billion as of March 31 to $8.6 billion. Its portfolio exposure to data centres will increase to 53.6% or $4.6 billion, from 41.2% or $2.8 billion as at March 31. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook