Private Equity

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RIL to acquire 33% stake in Brookfield's data centre JV for over Rs.330-Cr

Press Release   BSE Announcement  

Publicly listed Reliance Industries (RIL) is to acquire a 33.33% stake in a joint venture set up by Brookfield Infrastructure and Digital Realty for developing data centers in India. RIL will invest over INR 330 crore to acquire a third stake in each of the five existing special purpose vehicles set up by Mercury Holdings SG Pte Ltd, the Brookfield Infrastructure and Digital Realty JV,. Post deal, the JV will be rebranded as ‘Digital Connexion: A Brookfield, Jio and Digital Realty Company'. Shardul Amarchand Mangaldas acted as legal advisors, and Deloitte, Haskins & Sells LLP acted as accounting and tax diligence advisor to RIL on the deal. Mercury Holdings is currently developing data centers in Chennai and Mumbai. Its first 20 megawatt (MW) greenfield data center in Chennai is expected to be completed by the end of 2023. The JV also recently acquired 2.15 acres in Mumbai.