Infratil’s data centre investment is now worth a total of A$13.7 billion ($15.18b), up from A$10.2b just two months ago, pricing its almost 50% stake at A$6.85b.
The higher revaluation for CDC Data Centres comes on the back
Infratil’s data centre play further increases multibillion-dollar valuation
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“With this investment, Infratil gains additional governance rights, and we look forward to working alongside Future Fund and CSC to support CDC’s strategic direction and long-term growth,” he said.
“We remain focused on expanding CDC’s capacity and delivering high-quality digital infrastructure to meet our customers’ growing demand.”
Infratil’s previous 48.17% stake in CDC was worth about A$4.16b in September 2024.
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The Herald understands the deal bought Infratil board and shareholder voting control, possibly giving it more leverage to sell its upsized stake in the future.
Australia’s Future Fund made up the bulk of the most recent capital raise, acquiring 10.46% of CDC, taking its stake to 34.55%.
The third investor, Commonwealth Superannuation Corporation (CSC), retained its 12% ownership stake.
CDC’s founder and chief executive Greg Boorer was the largest individual shareholder of CSC, owning 3.66% – a stake priced at A$622.2m.
“I am thrilled to have the continued strong financial backing and support of Future Fund, Infratil and CSC,” Boorer wrote in a separate emailed statement announcing the deal.
“The strategic importance of these shareholders and their long-term horizon means that CDC is best positioned for making the right moves to lock in long-term growth in the relevant markets.”
Boorer started CDC in 2007, then called Canberra Data Centres. It now has numerous data centres across New Zealand and Australia, with a total of 2.5 gigawatts (GW) of capacity in operation and under development.
Boorer said CDC had “a relentless focus” on serving customers and delivering the highest levels of resilience, security and sustainability to meet their requirements.
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“We have done that consistently since day one, which was 18 years ago.
“Over that time, our customers have become even more discerning and their needs have grown rapidly. It is our pleasure to not only meet – but exceed – customer expectations and create genuine, long-term partnerships built on trust.”
Boorer this week announced plans to develop an A$2.7b Melbourne data centre campus, following a campus in Sydney. Together those campuses contributed 1GW to CDC’s capacity.
Infratil, an NZX-listed outfit, invested A$433m in equity into CDC in December to help fund its expansion plans.
It first invested in CDC in 2016.
CDC’s facilities stored digital information on behalf of businesses and governments.
“I often say we are the critical infrastructure for critical infrastructure,” Boorer wrote.
“With the most strategic shareholders in our corner, this transaction positions CDC perfectly to execute on our plans.”
Amazon Web Services was also building its data centre network in New Zealand to the tune of $7.5b, with plans to be operational this year.
Infratil’s share price was up $0.38 (3.51%) today.
Go inside one of CDC’s New Zealand data centres with Infratil’s chief executive Jason Boyes in an episode of Markets with Madison above.
