Investment fund management company Blackstone reached an agreement with data centre company QTS Realty Trust to buy the whole company for 5.364 million dollars (4.402 million euro), according to a release.
The funds from Blackstone which were used in the operation had to pay 78 dollars for each of the company’s 68.770 million shares. This represents a 21% premium over the shares’ listed price last Friday at the New York Stock Exchange.
QTS has informed that the deal’s total amount reached 10 billion dollars (8.209 million euro) if we take into account the company’s standing debt. QTS is a real estate investment company which has more than 650.000 sqm in data centres in 28 locations in North America and Europe. Its clients include big software companies and state entities.
QTS has assured that the resources and access to capital provided by Blackstone will support QTS’s future growth and will help expand its data centre offer to its clients.
«We are delighted to take part in this transaction with Blackstone, since it will provide a precise and immediate value, attractive for our shareholders, while positioning QTS so as to keep supporting the increasingly bigger data centre infrastructure needed by our clients», assured QTS’s board member Philip Trahanas.
The acquisition will be finalised during this year’s second half and is subject to receiving an approval from regulators and shareholders. Following the conclusion of this deal, the company will be excluded from being listed at the New York Stock Exchange.