Morrison-backed CDC Data Centres (CDC) has today announced its three existing shareholders have signed a deal to support its continued growth.
Future Fund and Infratil have agreed to acquire 12.04% of the ordinary shares of CDC from the Commonwealth Superannuation Corporation (CSC) through their pre-emptive rights, following an external sale process conducted by CSC. Upon completion, Infratil, Future Fund and CSC will own 49.75%, 34.55% and 12.04% of CDC, respectively. The CDC management, led by CEO Greg Boorer as the largest individual shareholder, will retain 3.66% of shares.
The consideration represents an Equity Value of A$13.7 billion (100% basis).
Morrison managed Infratil and CSC originally invested A$800m to acquire CDC in 2016. In 2019, Future Fund joined the shareholder group acquiring a 24.1% stake from CSC.
Since 2016, the business has grown significantly, expanding from an operating capacity of 30MW in Canberra to become a strategic data centre provider of global scale with a total of ~2.5GW of capacity across its operational, under construction and development pipeline. In 2024 it contracted over 300MW of capacity, with all three sponsors committing additional equity funding to support CDC’s multiyear development pipeline.
Morrison is proud to manage the interests of all three shareholders and congratulates all three on a successful outcome. The strong interest shown in CDC as part of the process highlights the continued tailwinds of the data centre industry and is a testament to the outstanding performance of the CDC Management team over many years. Morrison would like to acknowledge CSC on realizing a return of almost 43% p.a. on its stake, and to thank all the shareholders of CDC for their continued support of CDC and Morrison.
Further details on the transaction can be found at the following links:
CDC - Sovereign CDC Progress Secured as Shareholders Double Down on Growth | CDC
Infratil - https://infratil.com/news/infratil-increases-its-investment-in-cdc/
Future Fund - https://www.futurefund.gov.au/news-room/Future-Fund-acquires-further-shares-in-CDC
Commonwealth Superannuation Corporation - https://www.csc.gov.au/Members/News/2025-02-18-customers-benefit-from-early-moves-strategic-assets-ai-infrastructure
