Goodman Shares Jump on European Data-Center Partnership Plan
By Stuart Condie
SYDNEY--Shares in Goodman Group hit their highest level in nearly seven weeks after the Australian property group announced a more than US$9 billion expansion of its alliance with Canada's largest pension fund.
With about an hour of Tuesday's session remaining, Goodman's ASX-listed stock was 8.5% higher at 31.69 Australian dollars, equivalent to US$21.10. The jump made it the best-performing component of Australia's S&P/ASX 200 benchmark index.
It hadn't traded at such a level since Nov. 5.
The surge came after Goodman said it will join with the Canada Pension Plan Investment Board to develop data centers in Europe.
Goodman said the value of the new partnership would be A$14 billion, equivalent to US$9.32 billion, and involve an initial capital commitment of A$3.9 billion to develop a portfolio of projects in Frankfurt, Amsterdam and Paris.
Goodman has previously teamed up with Australia's Brickworks to establish joint-venture funds for the development of industrial and manufacturing sites.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
December 22, 2025 23:39 ET (04:39 GMT)
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