Controlled by Chinese steelmaker Jiangsu Shagang Group Co. and backed by Avic Trust Co., the intention to sell Global Switch Holdings was first announced in January.
The news comes fresh off KKR’s record-breaking $12 billion approach for Telecom Italia (TIM) as it attempts to take that company private.
Other companies interested in Global Switch include Equinix, Blackstone, DigitalBridge Group and Digital Realty Trust Inc according to Bloomberg.
However, it is not yet certain whether any of the interested parties will actively pursue a deal for the data centre developer.
After being established in 1998, Global Switch now owns and operates 13 data centres located in Tier-one cities across Europe and Asia Pacific and spanning around 428,000 square metres.
The firm is controlled by Chinese steelmaker Jiangsu Shagang Group Co has been exploring sale options that could value the company at $10.7 billion.
Earlier this month, KKR and GIP entered a definitive agreement to acquire all outstanding shares of common stock of Cyrus One for approximately $15 billion.
Valued at roughly $90.50 per share, the all-cash deal includes the assumption of debt and shows a premium of approximately 25% to CyrusOne’s unaffected closing stock price as of September 27, 2021.
