Under the terms of the agreement, GIC will own an 80 percent equity interest in the joint venture, with Equinix owning the remaining 20 percent. The joint venture is expected to close in Q3 2019, pending regulatory approval and other closing conditions. Equinix said it will be selling both its London LD10 and Paris PA8 IBX data centres and the associated leases, as well as certain other development interests, to the joint venture.
Additional new xScale data centres are expected to be developed in Amsterdam, Frankfurt (two sites) and London. These initial six facilities, when fully built out, will provide approximately 155 megawatts (MW) of power capacity, said Equinix, adding that the joint venture has already received financing commitments for EUR 850 million of secured credit facilities.
