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Asia Pacific Data Centre portfolio sale hits snag as buyer pulls out

The unnamed preferred party that agreed to buy Asia Pacific Data Centre's data center portfolio for A$280 million has pulled out of the agreement.

In a news release, the responsible entity for Asia Pacific Data Centre Trust, one of the entities that make up the listed data center operator, said the buyer's withdrawal from the deal is due to reasons outside of the portfolio being sold, which comprises three data centers in Sydney, Melbourne and Perth, Australia, that are all leased to NEXTDC Ltd.

Asia Pacific Data Centre SPV Pty. Ltd., the investment manager for the trust, has started discussions with the underbidders for the assets in light of the development.