Yondr is reportedly looking to sell its stake in its Indian data center joint venture.

Mint reports that it is planning to exit its EverYondr joint venture with private equity firm Everstone Group. Everstone Group has reportedly begun talks to buyout Yondr’s stake.

“Yondr Group is exiting its stake in the JV and exiting the platform. Everstone Group wants to acquire this stake, with the negotiations ongoing," a source told the publication.

The two companies set up the $1 billion JV in July 2021 to develop data centers across India. The JV’s first project was a 60MW facility in Mumbai, with future developments planned in Hyderabad, Bangalore, Chennai, and Delhi.

Google is reportedly set to lease an eight-story facility from Everyondr in Navi Mumbai that is due live in 2025.

Yondr’s website also lists a planned facility in Hyderabad, though details aren’t clear.

Headquartered in London and owned by single-family investment office Cathexis, Apollo Global Management, and Mubadala, Yondr is a developer, owner, and operator of data centers. The company currently has a contracted capacity of 878MW, with 58MW currently operational. The company has projects in Virginia, UK, Malaysia, Japan, Germany, and India.

Asian investment firm Everstone has more than $6 billion in assets across private equity, real estate, infrastructure credit, and venture capital.

Yondr declined to comment to DCD about the matter.