Wikborg Rein supports Aker in connection with another milestone data centre transaction
We have had the pleasure of supporting the Aker group in a transaction where Aker invests another USD 350 million in cash into Nscale - a global hyperscaler engineered for enterprise-grade AI infrastructure - and rolls up its 50% stake in the parties' Narvik data centre JV.
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A number of follow-on investors, including NVIDIA and Nokia, will invest another USD 1,650 million, taking total proceeds to USD 2 billion, making this the ever largest capital raise in Europe.
As part of the transaction, Aker will roll-up its 50% ownership stake in the data centre JV for additional shares in Nscale. Aker's total ownership in Nscale following these transactions will be ~24%.
The series of transactions imply a post-money valuation of Nscale of USD 14.6 billion. Aker's ~24% shareholding is valued at > USD 3.5 billion.
Following the announcement over Oslo Børs, Aker's market cap went >NOK 80 billion, a clear all-time high for Aker.
For more information, see:
- Financial Times (requires login)
- The Former Coal Miner in the Middle of the A.I. Data Center Boom - The New York Times
- Nscale Raises $2 Billion in Series C — the Largest in European History | Press Release | Nscale
- NewsWeb
- Blir største aksjonær: Aker øker eierskapet i Nscale | Finansavisen
- Aker øker eierskapet i Nscale: Verdsettes til 154 milliarder og henter fra Meta
- Aker-sjefen: Verdihopp på 23,5 milliarder etter Nscale-avtale – E24