Shipping Magnate John Fredriksen Invests in Data Center, Transatlantic Cable
June 20 2018 - 8:47AM
Dow Jones News
By Dominic Chopping
Norwegian shipping billionaire John Fredriksen has agreed to buy
a stake in Bulk Infrastructure AS, a Norwegian industrial group
that is developing a data center park in Norway and constructing a
transatlantic fiber cable.
Bulk said in a press release Wednesday that it will issue new
shares to raise between 400 million and 550 million Norwegian
kroner ($48.9 million-$67.2 million), with the company's founder
and chief executive Peder Naerboe and Mr. Fredriksen's Geveran
Trading Co. committing to invest at least NOK400 million.
Bulk is developing a data center park in southern Norway as well
as constructing a new subsea fiber cable connecting the data center
directly to the U.S., Ireland and Denmark as part of a joint
project called Havfrue.
Havfrue is a joint build agreement between Bulk, Google,
Facebook Inc. (FB) and Aquacomms.
Bulk is planning to tap into Norway's "enormous surplus of
renewable energy" by developing the datacenter industry in the
country, it said.
Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
June 20, 2018 08:32 ET (12:32 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Mar 2024 to Apr 2024
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Apr 2023 to Apr 2024