Terms will come once the latter’s subsidiary completes its $327.47m investment into Nxtra.
Singtel’s Indian unit Bharti Airtel (Airtel) will divest a 25% stake of its data centre business Nxtra to private equity firm Carlyle Group, a press release revealed. Airtel will continue to hold the remaining 75% stake.
Terms will come once CAP V Mauritius’ subsidiary Comfort Investments II completes its $327.47m (US$235m) investment into Nxtra. CAP V Mauritius is an investment fund managed and advised by affiliated entities of The Carlyle Group.
Nxtra will use the proceeds from this transaction to continue scaling up its infrastructure and offerings across the country. The transaction is subject to the necessary regulatory approvals, including approval from the Competition Commission of India.
“India is witnessing a considerable surge in demand for secure data centres as businesses undertake digital transformation and consumer demand for digital services continues to increase. Nxtra is building multiple large data centres across the country to capture the significant growth opportunities in India,” the press release stated.
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