TPG pursues $5 billion acquisition of British data centre group Ark, FT reports

TPG in Talks for $5 Billion Acquisition of Ark Data Centres, FT Says

Overview of the Acquisition Talks

Oct 28 (Reuters) - Global alternative asset manager TPG is in talks to buy British data centre group Ark from Elliott Investment Management at a valuation of about $5 billion, the Financial Times reported on Wednesday, citing people familiar with the matter. 

Key Details of the Negotiations

Here are some details:

Status of Discussions

• Discussions are ongoing, although a deal was not guaranteed, the newspaper said

Responses from Involved Parties

• Reuters could not verify the report. TPG and Ark Data Centres did not immediately respond to requests for comment outside business hours

Ark Data Centres' Partnerships

• Ark has a joint venture with the UK Government’s Cabinet Office, called Crown Hosting Data Centres, which gives it access to all UK public data centre requirements

Background on Elliott's Ownership

• Elliott, which had acquired Ark Data Centres in 2012, was exploring strategic options for the unit in a possible sale that could fetch more than $4 billion, Reuters had reported last year

Previous Reports on Potential Sale

(Reporting by Harishankar Manoj in Bengaluru; Editing by Sonia Cheema)