Digital Realty, Goodman Acquire $476 Stake in Australia's NextDC
By Stuart Condie
SYDNEY--U.S. data-center owner Digital Realty Trust and Australian industrial property owner Goodman Group acquired a near 10% stake in troubled NextDC for about US$476 million.
Digital Realty and Goodman said Monday that a jointly owned special purpose vehicle had paid 9.22 Australian dollars, or US$6.33, a share for a 9.9% interest in ASX-listed data-center operator NextDC.
The partners had no agreement to engage further and neither planned to make a takeover offer, but both reserved the right to do so in future, they 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.
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 worries among analysts about 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.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
November 08, 2026 17:54 ET (22:54 GMT)
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