Dubai's du plans to divest 26% in Khazna Data Center

This will be picked up by Technology Holding Co, which already owns rest of equity

Last updated: September 08, 2020 | 13:17

1 MIN READ

du had recently announced its plans for a shift in its business strategy. The divestment of Khazna Data Center stake could be part of the makeover process.

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Dubai: The Dubai headquartered telco du will be selling its 26 per cent ‘indirect’ stake in Khazna Data Center to Technology Holding Co., which already owns the other 74 per cent in the entity. The du stake in Khazna also includes its interest in shareholder loans.

“The company’s (du) board of directors has further approved the delegation to the management to conclude the transaction,” du added in the statement.

Technology Holding Company is part of Abu Dhabi’s Mubadala. Launched in 2012, Khazna is now an established name in wholesale data center space. It operates from two facilities, located in Dubai and Abu Dhabi, are delivering a combined 28+ MegaWatt (MW) of IT load, as per the company’s website.