Wren House Infrastructure Management is reportedly moving toward a transaction to acquire GIC Pte’s majority stake in a European data center joint venture, according to people familiar with the matter.
The direct infrastructure investment arm of the Kuwait Investment Authority is said to be negotiating to buy the 80% stake for about 700 million, roughly $810 million, the sources said. Those people cautioned that discussions are still under way and that Wren House could decide not to proceed with the purchase.
Equinix Inc., which owns the remaining 20% of the joint venture, is expected to maintain its investment, the sources added. Equinix currently operates 101 data centers around the world.
GIC Pte is identified as the sovereign wealth fund of Singapore.
Context and transaction status
According to the people with knowledge of the talks, the proposed deal centers on a large majority interest in a European data center partnership. The reported price tag for the 80% stake is about 700 million. While that figure has been cited by those familiar with the negotiations, participants emphasise the process is not complete and outcomes remain uncertain.
Stakeholders
- Wren House Infrastructure Management - prospective buyer and direct infrastructure arm of the Kuwait Investment Authority.
- GIC Pte - seller and sovereign wealth fund of Singapore.
- Equinix Inc. - current 20% partner in the joint venture, planning to remain invested and operator of 101 data centers globally.
What is clear
The information available at this stage is limited to the reported purchase price, the split of ownership under discussion, and the stated intention of Equinix to stay in the venture. Beyond those points, sources characterise the situation as fluid, with deliberations ongoing and no definitive agreement announced.