Leading global law firm Baker McKenzie advised Equinix Inc., the global interconnection and data center company, on its US $ 1 billion initial joint venture with GIC, Singapore's global wealth fund, to develop and operate TMXScale data centres in Europe. The deal, signed on 27 June, is announced today.
The initial facilities in the joint venture will serve the unique core workload deployment needs of a targeted group of hyperscale companies, including the world’s largest cloud service providers, and to streamline their continued growth, as well as strengthening Equinix’s leadership position in supporting the cloud ecosystem.
The Baker McKenzie team was led by London corporate partners Kirsty Wilson, David Hart and Charles Whitefoord, alongside senior associates, Simone Blackadder, Cecile Thote, David Yong and Denise Ozmis. Baker McKenzie tax team on the transaction was led by James Wilson.
The Baker McKenzie team worked closely with Equinix's internal legal team led by Andrew Sterneberg, supported by Truda Agostino for real estate.
Commenting on the transaction, Charles Whitefoord says: "We have worked with Equinix for a number of years and are particularly pleased to have worked with them on this exciting new venture. The transaction has been complex with a lot of moving parts. We wish the Equinix and GIC teams every success with this venture."
This is the latest example of Baker McKenzie's work in advising on complex transactions, including recently advising GSK on the divestment of its manufacturing site in Cork.