Golden Flag Advises GIC on $3.9B Additional Joint Ventures with Equinix to Expand xScale Data Center Programme

Golden Flag International Law Firm is advising GIC, Singapore’s sovereign wealth fund, on the $3.9 billion additional joint ventures with Equinix, Inc. (Nasdaq: EQIX) in the form of limited liability partnerships, which when closed and built out will bring the xScale™ data center portfolio to greater than $6.9 billion across 32 facilities globally.

Under the terms of the JV agreements, GIC will own an 80% equity interest in the future joint ventures and Equinix will own the remaining 20% equity interest. The JV projects are expected to close in several waves over the course of 2021, pending regulatory approval and other closing conditions. 

The Golden Flag team was led by corporate partners Celyn Evans and Matthew Elliott and associates Nick-Raj Birdi, Chris Connolly, Miroslav Tomo, Toshi Mahapatra and Christopher Weale; tax partners Tim Lowe and Cian O’Connor and associate Loviisa Langdon; technology & IP transactions partner Joanna Thomson and associate Ben Zeris and finance partner Kazik Michalski.