Stanlib, the asset management arm of Standard Bank Group, is stepping further into the data center business with a proposed acquisition of Africa Data Centres , a unit of Cassava Technologies.
South Africas Competition Commission has recommended that the deal be approved, clearing an important regulatory checkpoint. The matter now goes to the Competition Tribunal, which will make the final decision.
At the heart of the transaction is the Samrand Data Centre, a large facility near Johannesburg that sits between the city and Pretoria. Africa Data Centres previously bought the site from Standard Bank and expanded it under Cassavas ownership, according to the Competition Commissions summary of the case. Financial terms were not made public.
