NEXTDC Advises on $280m Indicative Offer

NEXTDC Limited (ASX: NXT) refers to Asia Pacific Data Centre Group (ASX: AJD) ASX announcement, dated 14 February 2018 titled ‘Update on Sale Process’.

APDC states that is has received a non-binding offer from an undisclosed third party which may be prepared to purchase all three data centres owned by the APDC Trust at a headline price of $280 million, subject to final contracts, securityholder approval, FIRB and other unspecified conditions (“Indicative Third Party Offer”).

NEXTDC previously rejected the APDC Trust offer of $300 million for all three data centre properties.

Should the Indicative Third Party Offer lead to a finalised contract, before proceeding with the sale and securityholder vote, APDC would need to formally offer the data centres to NEXTDC on those terms under the pre-emptive arrangements currently in place.

NEXTDC has not yet received a valid right of first refusal notice and will consider its terms once it receives them before deciding whether or not to exercise its pre-emptive rights. However, based on the limited information about the terms of the sale disclosed by APDC, NEXTDC is not currently prepared to acquire the APDC Trust’s assets at a $280 million price.

In the meantime, NEXTDC continues to proceed with its proposal to wind up the APDC Trust, and the related court proceedings.


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