Keppel DC REIT (KDCR), a Singaporean data center real estate investment trust company, has offered 585.1 million Singaporean dollars ($426 million) to buy two local data centers.
KDCR intends to pay $280 million to Thorium DC Pte Ltd. for a 99 percent stake in one of the data centers called Keppel DC Singapore 4. The other one percent stake is being acquired by an entity of Keppel Data Centres Holding Pte Ltd.
Furthermore, the firm is also proposing to purchase the second data center, 1-Net North Data Centre, from CityDC Pte Ltd. and WDC Development Pte Ltd. for a total purchase price of $146 million.
The proposed deals are expected to close in the fourth quarter of 2019. On the closure of the transactions, KDCR's assets under management are expected to increase from $1.44 billion to $1.88 billion.