Brazil’s Pátria Investimentos Ready To Sell Odata For US$1.85bn


Brazilian asset management group Pátria Investimentos has put a price tag of at least 10bn reais (US$1.85bn) on its Latin American datacenter company Odata, daily O Estado de São Paulo reported.

According to the report, a sale agreement is imminent. Contacted by BNamericas, Pátria and Odata did not comment.

A market source requesting anonymity told BNamericas that the value was twice as high as Pátria was initially requesting for Odata.

Pátria has been assessing the market for the company’s sale since April, having initially hired DH Capital as a financial advisory to oversee the deal, BNamericas previously learned.

DH Capital is one of the world’s main private digital infrastructure and telecoms investment banking partnership and M&A advisory firms. It reports having completed over 190 M&A deals and private capital placements to date for datacenters, managed hosting, cloud, software-as-a-service, digital media, cable television and telecom projects.

Since then, the sale process has advanced, with due diligence proceedings and Pátria obtaining a shortlist of potential buyers, BNamericas was told.

Although not necessarily on that shortlist, Equinix, Digital Realty, KKR, and Global Infrastructure Partners (GIP) have potential to buy the company.

Pátria founded Odata in 2015. At present, the company has three datacenters in Brazil, one in Colombia, and one in Mexico.

In 2018, Pátria sold a 10 per cent stake in Odata to US datacenter real estate investment trust CyrusOne, for US$12mn. Last March, KKR and GIP closed CyrusOne’s acquisition for US$15bn.

In August, Odata secured US$35mn in a financing tranche from the World Bank’s financing arm IFC to finance the construction and operation of another datacenter in Mexico. In 2020, Odata secured US$60mn from IFC to consolidate operations in Brazil.

In addition to Mexico, the company is also building two datacenters in Chile.

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