Blackstone to Buy Australia’s AirTrunk in A$24 Billion Deal (1)

Blackstone Inc. has agreed to acquire Australian data-center operator AirTrunk in a deal valuing the firm at A$24 billion ($16.1 billion), including debt and capital expenditure for committed projects.

The New York-based alternative asset manager, along with Canada Pension Plan Investment Board, is buying AirTrunk from Macquarie Group Ltd. and PSP Investments, according to a statement Wednesday. The transaction is pending regulatory approval by the Australian Foreign Investment Review Board.

The acquisition is Blackstone’s biggest-ever investment in the Asia-Pacific region, outweighing its A$8.9 billion takeover of Australian casino operator Crown Resorts Ltd. in 2022. It’s also one of ...