2024-01-18 11:50:44
The share of the yielding real estate company Azrieli which also operates in the field of server farms (data centers) for data storage, rises on the local stock exchange by 5% and leads the positive trend in the Tel Aviv 35 index, following a report on the Bloomberg website that it is examining options for its data centers arm, including its IPO. This is what they told the agency The news “factors familiar with the matter”.
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In practice, this is the activity of the Green Mountain company from Norway, which was purchased in 2021 by Azrieli, controlled by Dana Azrieli and managed by Eyal Hankin, for NIS 2.8 billion. According to the report, Azrieli has already held preliminary discussions with potential consultants regarding the possibilities for the business. According to the insiders, Azrieli may also try to raise a round of private financing for the unit based in Norway, according to the sources.
On the other hand, they say that another possibility is the issue of the company on some stock exchange in the world, and they even mentioned the name of the London Stock Exchange as a possible place. According to them, the valuation may reach 2.5 billion pounds, about 3.2 billion dollars (in shekels – 12.2 billion shekels). If these are the numbers, it means another success for Azrieli in a short time. According to the sources, if Azrieli chooses an alternative of The issue It is possible that “the sale of the shares will take place only later, later this year or next year” the sources stated.
Last year, Azrieli announced plans to build a center for the Chinese company TikTok in Norway for 750 million euros, where the campus will include several buildings where the customer will be provided with a total capacity of 90 megawatts. Azrieli expects an annual operating income (NOI) of 79 million dollars. This center is expected to join two more that TikTok has in Ireland. According to the report in Bloomberg, Green Mountain operates a facility in London and plans to establish a facility in Germany.
As I recall, Azrieli recently sold her holdings (32%) in the Compass company, which also operates in the field of server farms, at a value of 5.7 billion dollars, which gave Azrieli a profit of NIS 900 million (profit before tax of NIS 1.3 billion).
No response was given on behalf of Azrieli.
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