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Highlights
- HMC in talks with Global Switch Australia for data center assets.
- Discussions include potential $2 billion deal.
- Plans for a $1 billion real estate listing this year.
HMC Capital (ASX:HMC), led by David Di Pilla, has confirmed ongoing discussions with data center provider Global Switch Australia, as well as other players in the sector, following reports of a potential $2 billion deal. The talks, which have drawn significant attention, focus on Global Switch Australia's two large-scale data center developments located in inner Sydney.
These high-value assets are poised to play a central role in a broader $1 billion real estate initiative that Di Pilla, a seasoned dealmaker and former UBS banker, aims to bring to market later this year. This move aligns with the increasing demand for digital infrastructure and real estate that supports data centers, driven by the expansion of cloud computing and the tech sector.
HMC Capital, which is positioning itself in this rapidly growing market, acknowledged the discussions in response to media reports earlier this week. The Australian Financial Review’s Street Talk column had reported on the potential deal, which sparked interest across the market. HMC has since confirmed that talks are ongoing, and while details remain confidential, the company emphasized that any acquisitions are still conditional and non-binding at this stage.
The assets in question, Global Switch’s data centers, are part of a growing trend where investors are targeting data infrastructure due to the increasing reliance on digital services. These developments, located in prime areas of Sydney, are seen as key to capitalizing on the surge in demand for data storage and processing capabilities.
David Di Pilla’s plans to list the $1 billion real estate venture later this year have attracted attention, with the potential acquisition of data center assets expected to serve as a significant foundation for the offering. The listing would likely capture the attention of investors eager to gain exposure to the booming data center market.
As discussions continue, the market is closely watching how these talks evolve and whether HMC’s potential acquisition of Global Switch Australia’s assets will materialize, setting the stage for its ambitious real estate listing.
