Ontario Teachers’ to sell Metronode to Equinix for $791 mln

Ontario Teachers' Pension Plan has agreed to sell Metronode, an Australian data centre provider, to Equinix Inc. The all-cash deal is valued at A$1.035 billion (US$791 million) and is expected to close in the first half of next year. Ontario Teachers' acquired a 70 percent stake in Metronode as part of a June 2013 investment in its parent company, Nextgen Group Pty Ltd. Last year, the pension fund acquired the remaining interest from CIMIC Group Ltd. Over this period, Ontario Teachers' invested A$300 million to construct and expand Metronode's facilities, increasing fitted capacity to 21 mega-watts.

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