DigitalBridge Group, Inc. (NYSE:DBRG) agreed to acquire AIMS Data Centre Sdn Bhd from TIME dotCom Berhad (KLSE:TIMECOM) for MYR 2 billion on August 31, 2022. As part of the strategic partnership, the overall AIMS business is being valued at an enterprise value of RM3.2 billion. TIME dotCom Berhad will sell 49 per cent of the ordinary shares and 100 per cent of the irredeemable convertible preference shares in AIMS Data Centre Holding, and 21 per cent of the ordinary shares in AIMS Data Centre (Thailand).

As per the TIME dotCom Berhad's circular to the shareholders filed on January 16, 2023, the transaction will be discussed in the forthcoming EGM of Time on on February 15, 2023 and will be open for voting. The transaction is conditional on the approval of the shareholders of Time at their forthcoming EGM. The transaction is expected to close by the end of Q2 2023, subject to certain conditions precedent being satisfied.

Credit Suisse Group AG (SWX:CSGN) acted as financial advisor to TIME dotCom Berhad in the transaction. Ernst & Young Consulting Sdn. Bhd.

acted as due diligence provider to TIME dotCom Berhad.