Dh800million

UAE telecom operator du will get from selling its stake in Khazna Data Centre.

The Dubai-headquartered du will sell its 26 per cent stake in the company to Abu Dhabi’s Technology Holding Company. It was last week that the du management confirmed there were moves to divest its Khazna stake.

Once the transaction is complete, Technology Holding will own 100 per cent in Khazna.

“The transaction is in line with the company strategy of pursuing data centre development through either full ownership or commercial partnerships and will allow it to accelerate growth in this area,” du said in a statement.

The 26 per cent in Khazna was held as an “indirect stake”, which includes du’s exposure to shareholder loans.