It has involved a long feud and months of to and fro, but NextDC is set to take over the properties housing its data centers in Sydney, Melbourne, and Perth.

As the sole tenant of the three buildings, NextDC was presented the opportunity – and the price tag of around AU$300 million – to purchase back Asia Pacific Data Centers (APDC) and consequently the ownership of the buildings from 360 Capital, which had won majority ownership of APDC in 2017.

This is the very portfolio that NextDC sold in 2012 for AU$207 million. The company declined the offer, quoting it to be of “unjustifiable value”.

When 360 Capital announced in March this year it had found an undisclosed buyer willing to impart $280 million, NextDC knocked back the proposal with its pre-emptive right of refusal.

NextDC then rejected APDC's third offer one month later for $265 million.

Now finally, 360 Capital has indicated it is set to accept NextDC's $2 per share cash offer plus a 2¢ special distribution. 360 Capital has a 67.31 per cent of APDC with the remaining register including minority investors at 3.49 per cent and NextDC with 29.2 per cent.

NextDC revealed in its financial findings that it expects the share buyback to reach $163 million, with the addition of restructuring costs and restoration of APDC's debt to bring the total to $200 million.

“Completing this acquisition is in line with our longer-term strategy to own more of our data center properties,” NextDC chief executive Craig Scroggie said.

“This will provide the company greater flexibility in its capital structure as the company continues to build out its significant pipeline of data center developments.

According to various sources, the two had been ensconced in an ongoing feud surrounding ongoing access rights at the three facilities, so hopefully this should put that to bed.

NextDC expects the investment the pay for itself over time with savings of up around $14 million per year before interest.