Azrieli Group acquires Green Mountain

Jul 21, 2021 | Posted by AbdulRahmanOladimeji

Azrieli Group, an Israeli real estate firm, has acquired 100% of Green Mountain, a Norwegian data center Company. The acquisition cost Azrieli NIS 2.8 billion ($849.2m). Azrieli noted that the acquisition would be self-financed, and it will be through debt raising and through an unsecured loan which the Company is working on.

Chairman of Azrieli, Danna Azrieli, said the acquisition of Green Mountain is a significant milestone in realizing the Company’s strategy for building international operations in the data center market. She further added that combining its operations in North America and Europe through the acquisition of Green Mountain will allow Azrieli to become a significant player in the market.

Green Mountain currently operates three data centers in Norway. One of its facilities -DC1-Stavanger, has 230,000 square feet of space. It also bought 538,000 square feet at the Haugaland Business Park earlier in the year for a campus.

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