Malaysia's TIME sells $699 million AIMS data centre business to DigitalBridge

SINGAPORE : Malaysian telecoms firm TIME dotCom said on Tuesday it would divest its 3.2 billion ringgit AIMS Group data centre business to U.S infrastructure investor DigitalBridge.

Under the partnership, TIME will sell 49 per cent of the ordinary shares and 100 per cent of the irredeemable convertible preference shares in AIMS Data Centre Holding, and 21 per cent of the ordinary shares in AIMS Data Centre , according to a joint statement. Proceeds from the transaction of some 2 billion ringgit will partly be used to pay a special dividend of up to 1 billion ringgit to TIME's shareholders, TIME's commander in chief Afzal Abdul Rahim said in the statement.

Source: News Formal (newsformal.com)

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