Leading global law firm Baker McKenzie has advised Equinix Inc., the world’s digital infrastructure company, on creation of an additional US $ 3.9 billion joint venture with GIC, Singapore's sovereign wealth fund, to develop and operate 17 xScale™ data centres across EMEA and South and Central America. The deal, signed on 11 June 2021, is announced today. 

The 14 initial facilities in the joint venture – 10 in EMEA and 3 in Brazil with a further data centre in Mexico to be added - will serve the needs of a targeted group of the world’s largest cloud service providers, as well as strengthening Equinix’s leadership position in supporting the cloud ecosystem.   When closed, the transaction will bring the xScale™ data center portfolio to more than $6.9 billion across 32 facilities globally.

Baker McKenzie's international team was led by London corporate partners Kirsty Wilson and David Hart. Washington-based tax partner James Wilson led on tax structuring, while Sydney-based partner Anne Petterd, led on commercial arrangements.  Senior associate support was provided by a multi-jurisdictional, multi-disciplinary team, including Oliver Feslier Holmes, and Amanda Waley (corporate), Simone Blackadder and Saskia Volhard (commercial), and David Schultz and Claudine Fox (tax).  Foreign investment and anti-trust advice was provided via Brussels, by partner Gavin Bushell and associate Lisa Weinert. 

The Baker McKenzie team worked closely with Equinix's internal legal team led by Andrew Sterneberg, supported by Truda Agostino for real estate.

A Kirkland & Ellis London team led by Celyn Evans and Matt Elliot advised GIC.

Commenting on the transaction, Baker McKenzie Corporate Partner, Kirsty Wilson said: "We're delighted to have partnered with Equinix on its third, and largest to date, xScale™ joint venture.  Working alongside the Equinix team on these exciting transactions to expand the xScale platform with GIC required great teamwork, combined with the Baker McKenzie global platform. We wish the Equinix and GIC teams all the very best with this expansion to their continuing partnership."

The same Baker McKenzie team previously advised Equinix on its previous two US $1 billion xScale™ joint ventures with GIC, which focused on European and Japanese assets.

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