DigitalBridge : DigitalBridge Selling Vantage Data Centers Minority Interest

Mar 09, 2023 | Posted by Abdul-Rahman Oladimeji

Inquiries are being made by DigitalBridge Group about selling a small portion of Vantage Data Centers. The CEO of DigitalBridge, Marc Ganzi, stated on the company's most recent quarterly results call that it wanted to raise more money while also focusing on the deconsolidation more of its "operating segment," similar to how it just recapitalized DataBank with new investors. The company stated that it intends to further dilute its stake in DataBank by raising an additional $600 million and bringing it down to about 8% by the end of 2023. The company might also lower its 13 percent stake in Vantage SDC, a holding company for stable Vantage assets, to slightly under 10 percent. From 2020 on, it increased its ownership of the business. 

Per people with knowledge of the situation, a deal for Vantage might raise upwards of $1.5 billion, according to Bloomberg. DigitalBridge is reportedly collaborating with UBS Group AG to determine buyer interest. Bloomberg received no reaction from DigitalBridge. With more under construction, Vantage manages more than 20 data center sites in the US, Canada, Europe, Asia, South Africa, and Australia.