By Kane Wu
HONG KONG (Reuters) – About 10 private equity companies and info businesses are looking at bidding for Chinese-managed World-wide Swap, in a offer that could value the corporation at $10 billion, according to 4 men and women with immediate know-how of the transaction.
The British isles-primarily based information heart operator, managed by Chinese steelmaker Jiangsu Shagang Team, kicked off a formal sale procedure previously this month with non-binding bids owing in the upcoming pair weeks, explained the individuals.
Prospective suitors incorporate international fund KKR & Co, Europe-dependent EQT, as very well as regional fund PAG, mentioned two of the people today.
The resources are expected to compete with a quantity of global information organizations for a controlling stake in International Swap, the men and women added.
Worldwide Change mentioned previous thirty day period its shareholders were checking out a divestment transaction and it had appointed JPMorgan, Morgan Stanley, UBS and CITIC Securities to suggest on the sale.
The resources declined to be recognized as the information is private.
World-wide Switch，KKR and EQT declined to comment.
Jiangsu Shagang Group and PAG did not straight away reply to requests for comment.
The sale of Worldwide Swap arrives as knowledge facilities globally turn into increasingly appealing to field gamers as properly as non-public fairness traders, as the ongoing COVID-19 pandemic has cultivated a substantially a lot more digitalized lifestyle.
In the initially 50 % of 2022, facts middle transactions totalled $21.3 billion, double the $10.6 billion in the exact same period of time past yr, according to a report by legislation organization DLA Piper.
Started in 1998, World wide Swap operates 13 details facilities throughout Europe and Asia Pacific.
Jiangsu Shagang initial invested in the organization indirectly in 2016, and turned its largest shareholder in 2019 right after obtaining a additional 24% stake for 1.8 billion lbs, according to a Worldwide Change announcement at the time, which would translate into a valuation of 7.5 billion pounds ($9.1 billion) for the company.
($1 = .8219 lbs)
(Reporting by Kane Wu Additional reporting by Yantouultra Ngui in Singapore Editing by Sumeet Chatterjee and Mark Potter)