Malaysia's TIME sells $699 million AIMS data centre business to DigitalBridge

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

SINGAPORE : Malaysian telecoms firm TIME dotCom said on Tuesday it would divest its 3.2 billion ringgit ($699.45 million) AIMS Group data centre business to U.S infrastructure investor DigitalBridge. Under the partnership, TIME will sell 49 per cent of the ordinary shares and 100 per cent of the irredeema

SINGAPORE : Malaysian telecoms firm TIME dotCom said on Tuesday it would divest its 3.2 billion ringgit AIMS Group data centre business to U.S infrastructure investor DigitalBridge.

Under the partnership, TIME will sell 49 per cent of the ordinary shares and 100 per cent of the irredeemable convertible preference shares in AIMS Data Centre Holding, and 21 per cent of the ordinary shares in AIMS Data Centre , according to a joint statement. Proceeds from the transaction of some 2 billion ringgit will partly be used to pay a special dividend of up to 1 billion ringgit to TIME's shareholders, TIME's commander in chief Afzal Abdul Rahim said in the statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines