Keppel divests data centre in Frankfurt for 76m euros

KEPPEL Corp BN4 is proposing to divest a data centre facility located in Frankfurt, Germany for a cash consideration of 76 million euros (S$121.6 million), the conglomerate said on Thursday.

The property, Keppel DC Frankfurt 1, will be divested to a wholly-owned subsidiary of Iron Mountain. It was previously held under Calcium DC, a 60-40 joint venture between Alpha DC Fund and Keppel Data Centres Holding.

Keppel expects the divestment will be completed in Q3 of 2021. It added that it does not expect the divestment to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year.

The book value of the property as at Dec 31, 2020 is 63 million euros, Keppel said.

Shares of Keppel Corp closed at S$5.27 on Wednesday, down S$0.15 or 2.8 per cent.