Deals
Global Switch’s Chinese Owners Explore $11 Billion Sale
- Shagang and investors are working with advisers on a deal
- The sale follows Global Switch’s scrapped Hong Kong IPO
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The owners of Global Switch Holdings Ltd. are exploring a sale that could value the London-based data center operator at 8 billion pounds ($10.9 billion) or more, people with knowledge of the matter said, potentially extending the list of major overseas investment disposals by Chinese investors.
Global Switch, controlled by Chinese steelmaker Jiangsu Shagang Group Co. and backed by Avic Trust Co., is working with advisers to solicit interest from prospective suitors, said the people, who requested anonymity because the talks are private.