Keppel DC REIT buys 88.62% stake in two Japan data centres

The acquisition was partly funded by proceeds from a $625m private placement.

Keppel DC REIT has bought an 88.62% effective interest in two data centres in Inzai City, Japan, Keppel DC REIT Management Pte. Ltd said.

Keppel used $617.5m from a $625m private placement on 2 September to partly fund the acquisition.

Of the proceeds, $7.5m went to the estimated fees and expenses, including professional fees.

About $1.7m originally allocated for fees was reallocated to partially fund the acquisition, Keppel said.

The acquisition follows Keppel’s 1 September announcement on the deal and its 2 September announcement on the private placement results.

As of 1 October, the $625m proceeds from the private placement have been fully utilised, Keppel DC REIT said in a bourse filing.

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