Pacific Equity Partners to acquire a 75% stake in Data Centre Business from Spark New Zealand for NZD705m.

Pacific Equity Partners, a private equity investment firm, agreed to acquire a 75% stake in Data Centre Business from Spark New Zealand, a telecommunications and digital services company, for NZD705m. “We are pleased to reach this agreement with PEP, one of Australia’s leading private capital managers with a strong track record of growing businesses across New Zealand and Australia. Through this partnership, we will realise value for our data centre assets in the short term, while also continuing to participate in the growing market through our 25% retained stake – creating further value for our shareholders over the long term,” Jolie Hodson, Spark CEO.