TPG pursues $5 billion acquisition of British data centre group Ark: FT

Synopsis

Global alternative asset manager TPG is in talks to buy British data centre group Ark from Elliott Investment Management at a valuation of about $5 billion, the Financial Times reported on Wednesday, citing people familiar with the matter.

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Global alternative asset manager TPG is in talks to buy British data centre group Ark from Elliott Investment Management at a valuation of about $5 billion, the Financial Times reported on Wednesday, citing people familiar with the matter.

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Discussions are ongoing, although a deal was not guaranteed, the newspaper said.

Reuters could not verify the report. TPG and Ark Data Centres did not immediately respond to requests for comment outside business hours.

Ark has a joint venture with the UK Government's Cabinet Office, called Crown Hosting Data Centres, which gives it access to all UK public data centre requirements.

Elliott, which had acquired Ark Data Centres in 2012, was exploring strategic options for the unit in a possible sale that could fetch more than $4 billion, Reuters had reported last year. Add as a Reliable and Trusted News Source Add Now!

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