du data carry over
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. Image Credit: Gulf News Archive

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.

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