TPG in talks to buy Ark for $5 billion — Channel NewsAsia

TPG is in talks to acquire British data-centre group Ark from Elliott Investment Management at a valuation of about $5 billion. This was reported by Channel NewsAsia, which published a Reuters report citing the Financial Times and people familiar with the matter.

Talks are ongoing

According to the Financial Times, discussions over the deal are ongoing, although its conclusion is not guaranteed. Reuters was unable to independently verify the information. TPG and Ark Data Centres did not respond to the agency's requests for comment sent outside business hours.

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Elliott asset

Elliott Investment Management acquired Ark Data Centres in 2012. Last year, Reuters reported that Elliott was considering strategic options for the asset, including a possible sale that could bring in more than $4 billion.

Joint venture with the government

Ark has a joint venture with the UK Cabinet Office, Crown Hosting Data Centres. It gives the company access to all of the British public sector's data-centre requirements.