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Shagang Group acquires 24% stake in Global Switch

2019-08-29 10:04:01  【Print】
A 24.Asian Metal Copyright, Ltd "Shagang Group", the largest privately owned steel maker in China.Asian Metal Copyright01% stake in Global Switch Holdings Limited ("Global Switch" or "the Company"), has been acquired by Jiangsu Shagang Group Co.Asian Metal Copyright This further investment in Global Switch is part of Shagang Group's ongoing strategy to diversify its asset base into technical infrastructure supporting the new economy and demonstrates its continued confidence in Global Switch and its management team.Asian Metal Copyright, Ltd ("Shagang Group"), the largest privately owned steel maker in China.

Global Switch is the leading owner, operator and developer of large scale network dense, carrier and cloud neutral multi-tenanted data centers in Europe and Asia-Pacific. The stake has been acquired from Aldersgate Investments Limited, a Reuben Brothers company, in a transaction valued at £1.Asian Metal CopyrightA 24.Asian Metal Copyright8bn.

The investment by Shagang Group, through an indirect wholly owned investment vehicle, increases its equity stake in Global Switch to 49.9% on a look through basis, making it the largest shareholder in the Company.Asian Metal Copyright, Ltd "Shagang Group", the largest privately owned steel maker in China.Asian Metal Copyright Shagang Group had previously acquired indirect stakes in the Company through its participation in the Elegant Jubilee Limited and Strategic IDC Limited consortia of institutional and private investors, which invested in Global Switch in December 2016 and July 2018.

This further investment in Global Switch is part of Shagang Group's ongoing strategy to diversify its asset base into technical infrastructure supporting the new economy and demonstrates its continued confidence in Global Switch and its management team.

.Asian Metal Copyright Shagang Group had previously acquired indirect stakes in the Company through its participation in the Elegant Jubilee Limited and Strategic IDC Limited consortia of institutional and private investors, which invested in Global Switch in December 2016 and July 2018.Asian Metal Copyright