Blackstone, Digital Realty join hands to develop $7 billion data centers
Reuters
Published Dec 07, 2023 05:53PM ET
Updated Dec 07, 2023 06:07PM ET
(Reuters) - U.S. investment giant Blackstone (NYSE:BX) and data-center firm Digital Realty (NYSE:DLR) will create a joint venture that will spend $7 billion on developing data centers, the companies said on Thursday.
The venture plans to develop 10 data centers across four campuses in Frankfurt, Paris and northern Virginia, the companies said.
Demand for data centers has remained resilient even in an uncertain economy as more businesses move to the cloud.
Blackstone will acquire an 80% ownership interest in thejoint venture for about $700 million of initial capital contributions, while Digital Realty will maintain a 20% interest.
The joint venture is scheduled to close in two stages over the course of the first half of 2024.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.