CLINT to divest minority stakes in three data centre assets for Rs 7 billion

CapitaLand India Trust (CLINT) has entered into agreements to divest minority stakes in three under-development data centre assets to the CapitaLand India Data Centre Fund (CIDCF), which is managed by CapitaLand Investment (CLI). Under the transaction, CIDCF will acquire a 20.2 per cent stake in each of the three data centre assets. As per CLI, the total purchase consideration for the deals is estimated at Rs 7 billion (around S$99.7 million). As part of the arrangement, CIDCF will also receive a right of first offer to acquire a stake in CLINT’s fourth data centre project, CapitaLand DC Bangalore, located in Bengaluru. The divestment aligns with CLINT’s portfolio reconstitution strategy, aimed at unlocking value from its data centre developments while strengthening its balance sheet.