According to rumors, BlackRock (BLK.US) and IFM are close to finalizing the $25 billion acquisition of Stack Asia Pacific Data Center

Zhitong Finance App learned that according to people familiar with the matter, a consortium supported by BlackRock (BLK.US) and IFM Investors Pty has entered the exclusive negotiation stage for the potential acquisition of Stack Infrastructure Inc.'s Asia Pacific data center.

The investor group — including BlackRock's supported Artificial Intelligence Infrastructure Partnership (AIP) and IFM — is preparing to conduct due diligence on these assets, according to the person familiar with the matter. As the information was not made public, these individuals requested anonymity. They said the deal could value this set of assets between $20 billion and $25 billion.

According to people familiar with the matter, the bidder plans to reach an agreement with Stack's owner Blue Owl Capital Inc. (OWL.US) as soon as possible. Earlier it was reported that Stack is considering selling these data centers, and AIP and IFM are among the potential bidders. People familiar with the matter previously revealed that Blue Owl initially sought a valuation of over $30 billion for these assets.

People familiar with the matter said that the relevant review is still ongoing, and the negotiations may last longer or break down.

As global funds seek to deploy industries and regions that benefit from the rapid growth of AI, data centers and related infrastructure have become a hot area for mergers and acquisitions in Asia.

AIP's founders include BlackRock's Global Infrastructure Partnership, Microsoft (MSFT.US), and MGX supported by Mubadala Investment Co. The group aims to invest in and expand AI infrastructure. Its first deal was announced in October last year to acquire Aligned Data Centers for $40 billion. Nvidia (NVDA.US), Kuwait Investment Authority, and Temasek Holdings are also investors in AIP.

Representatives from BlackRock, GIP, IFM, MGX, Blue Owl, and Stack did not immediately respond to requests for comment.

According to Stack's website, its Asia Pacific data centers are located in Tokyo, Osaka, Melbourne, Sydney, and Johor Bahru, Malaysia.