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Spark NZ has completed the sale of its data center business to Pacific Equity Partners, now named TenPeaks Data Centres. The deal, valued at up to NZ$705 million, allows Spark to retain a 25% stake while receiving NZ$486 million at completion and potential performance-based payments. TenPeaks plans to invest NZ$3 billion to expand its data center portfolio in New Zealand, targeting growth in capacity to meet increasing data storage demands.