Global Switch Holdings Limited announces the introduction of a new investor consortium, comprising both new and existing Global Switch investors, to further support the growth of the company.

Strategic IDC Limited has agreed to acquire a 24.99% stake in the company for an aggregate cash consideration of £2.1 billion. This payment comprises £1.8 billion for the shares in Global Switch and a further amount of £300 million to Aldersgate Investments Limited. The transaction reaffirms Global Switch as one of the most highly valued data center businesses in the world.

The Strategic IDC consortium includes follow-on investment from existing Global Switch institutional and private investors including AVIC Trust and the Hong Kong investment arms of Haoyue Capital and Jiangsu Sha Steel Group, the largest private steel maker in China, as well as the introduction of new stakeholders including the Hong Kong regulated China CITIC Bank International, which is providing debt funding to Strategic IDC Limited.

It is the current intention that Global Switch’s new and existing shareholders, including Aldersgate Investments and Jiangsu Sha Steel Group, will continue to retain stakes in the company in the event of any future IPO.