Pacific Equity Partners (PEP) is reportedly in advanced negotiations to acquire a controlling interest in Spark New Zealand’s data centre business, in a transaction that could value the unit at over NZD600m ($357m), according to a report by Bloomberg.
The proposed deal would see PEP acquire a stake of between 50% and 70%, although specific terms have not been confirmed publicly. Neither PEP nor Spark NZ have issued official comment on the matter.
Spark previously announced in February that it had commenced a strategic process to bring in a partner to support ongoing investment and growth in its data centre portfolio.
The potential transaction aligns with broader regional trends, as infrastructure investors and private equity firms increase exposure to digital infrastructure amid rising demand for cloud computing and AI-driven services.
The reported move by PEP follows other high-profile data centre transactions in Australasia, including Blackstone and CPPIB’s acquisition of Australian operator AirTrunk in a deal valued at AUD24nn, inclusive of debt and committed capex.
