Blue Owl Capital Inc (NYSE:OWL) shares rose about 0.7% in premarket trading on Wednesday after a media report said Stack Infrastructure Inc., a data center company under Blue Owl's ownership, is exploring the possibility of selling its Asia operations.
According to people familiar with the situation cited in the report, Stack has held discussions with potential advisers about either a partial or complete sale of assets located in Australia, Japan and Malaysia. Some people referenced in the report suggested that such a transaction could be valued at more than $30 billion.
Stack, which is based in Denver, runs data centers in the Americas, Europe and Asia. The company expanded into the Asia Pacific region in 2021, setting its regional headquarters in Singapore and pursuing growth through arrangements with landowners and property developers as well as acquisitions. Blue Owl gained control of Stack as part of its acquisition of IPI Partners LLC last year.
Sources described potential interest from infrastructure-focused investment funds and other industry participants as a possibility, but they emphasized that these considerations are preliminary and that no final decisions have been reached. The report did not specify any timeline for potential transactions or identify advisers or bidders by name.
Market reaction to the report was modest, with Blue Owl's shares registering a small uptick in premarket trading. The details cited in the report focus on Asia assets in Australia, Japan and Malaysia, while Stack continues to operate a broader portfolio of data centers across multiple regions.
Context and implications
The discussions described in the report center on Stack's Asia operations and potential strategic alternatives for those assets. Any moves would be evaluated within the context of Stack's global operations and Blue Owl's broader ownership of the business following last year's takeover of IPI Partners LLC.
What is clear from the available information
- Stack is in preliminary talks about the possible sale of assets in Australia, Japan and Malaysia.
- Some sources cited in the report indicated a potential valuation above $30 billion for a transaction involving those assets.
- No final decisions have been made and discussions remain at an early stage.