Digital Realty, Goodman Acquire $476 Million Stake in Australia's NextDC — Update
By Stuart Condie
SYDNEY--Digital Realty Trust and Australian industrial property owner Goodman Group have acquired a near 10% stake in troubled NextDC for about US$476 million.
The U.S. data-center owner and Goodman Group said Monday that a jointly owned special purpose vehicle had paid 9.22 Australian dollars, equivalent to US$6.33, a share for a 9.9% interest in ASX-listed data-center operator NextDC.
The partners have no agreement to engage further and currently have no plans for a takeover offer, though they reserved the right to do so in the future, the companies said in a statement.
"Digital Realty and Goodman Group are each highly experienced investors in the data-center sector and look forward to a potential collaboration with the NextDC board and management on the ways and forms in which the parties may help to address the challenges facing the company," they said.
In a separate statement, NextDC said that its board would consider the merits of any proposal, adding that it had not received one.
Last month, NextDC's stock tumbled 42% to a nearly nine-year low A$5.35 after delays to construction at one of its Melbourne facilities prompted it to slash its earnings guidance, raising analyst concerns over how it would fund other developments.
NextDC said last week it was aware that Digital Realty and Goodman had launched a share raid, calling it opportunistic.
Shares in NextDC were down 3.0% at A$10.09 after about two hours into Monday's session.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
November 08, 2026 20:15 ET (01:15 GMT)
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