SINGAPORE: Malaysian telecoms firm TIME dotCom said on Tuesday it would divest its RM3.2bil (US$699.45mil) AIMS Group data centre business to U.S infrastructure investor DigitalBridge.
Under the partnership, TIME will sell 49% of the ordinary shares and 100% of the irredeemable convertible preference shares in AIMS Data Centre Holding, and 21% of the ordinary shares in AIMS Data Centre (Thailand), according to a joint statement.
Proceeds from the transaction of some RM2bil will partly be used to pay a special dividend of up to RM1bil to TIME’s shareholders, TIME’s commander in chief Afzal Abdul Rahim said in the statement. – Reuters
