UAE telecoms group e& has agreed to sell its 40% stake in Khazna Data Center Holdings to artificial intelligence company G42 for $2.2 billion. The transaction is expected to generate a capital gain of $1.4 billion before federal royalty and corporate tax, with proceeds earmarked for debt reduction. Despite the sale, e& will remain a strategic partner and major tenant of Khazna. The deal is anticipated to conclude by the end of the first quarter.
Khazna, which designs, builds, and operates wholesale data centres, will see MGX and Silver Lake become minority investors alongside majority shareholder G42.
This move aligns with the UAE’s broader strategy to invest heavily in artificial intelligence and digital infrastructure, aiming to enhance its global influence in the tech sector.
