Telstra (ASX:TLS) sells data centre to Centuria Industrial REIT (ASX:CIP) for $416.7 million

Telstra (ASX:TLS) sells data centre to Centuria Industrial REIT (ASX:CIP) for $416.7 million



 

Telstra (ASX:TLS) has entered an agreement to sell its data centre complex in Clayton, Victoria, to Centuria Industrial REIT (ASX:CIP) for $416.7 million.

Telstra will retain ownership of all IT and telecommunications equipment, as well as ongoing operations and responsibility for building upgrades and repairs, future capex requirements and security.

The sale has no impact for Telstra customers, the telco said.

The lease is for an initial period of 30 years with two 10-year options for Telstra to extend the lease.

Telstra CEO Andrew Penn said the sale was another marker of progress on the company’s T22 strategy to monetise up to $2 billion worth of assets.

The deal brings Telstra’s balance sheet to over $1.5 billion.

Shares in Telstra (ASX:TLS) are trading 1.15 per cent lower at $3.44. 
Copyright 2020 – Finance News Network


Source: Finance News Network

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