Aug 01, 2022 | Posted by Abdul-Rahman Oladimeji
The number of companies looking to acquire Global Switch is increasing by the day as PAG has joined the long list of potential suitors. Global Switch is a London-based data center company founded in 1998 with 13 facilities across Asia, Europe, and Australia. Jiangsu Shagang, a Chinese steel company, later took control of the company in 2016. According to Reuters, Shagang has officially started a sale process. Non-biding offers are also expected to be due in the next few weeks.
Global Switch has been mulling over a sale for more than a year. In fact, it was in discussions with potential investors for an $11 billion sale in January 2021. Later in November, KKR, Blackstone, Digital Realty, DigitalBridge, Equinix, and Brookfield Asset Management were among the companies looking to acquire the data center firm.
