Update on potential shareholder transaction
LONDON, 8 June 2022, Global Switch (“Global Switch” or the “Company”), a leading owner, operator and developer of large-scale network dense, carrier and cloud neutral multi-tenanted data centres in Europe and Asia-Pacific, confirms that shareholders in the Company are exploring a potential divestment transaction. This confirmation updates the Company’s earlier announcement on 25 November 2021.
Following strong inbound international investor interest, Global Switch’s shareholders have informed the Company that they have mandated four global investment banks including J.P. Morgan, Morgan Stanley, UBS and CITIC Securities as joint financial advisors on the potential divestment transaction. The banks will now commence a formal process to explore options to introduce international investors to create liquidity for their stakes and accelerate the Company’s growth strategy.
Global Switch’s leadership team, led by its executive directors Chief Executive Officer, John Corcoran and Chief Financial Officer, David Doyle, welcome this clarification from shareholders and will be actively engaged in the transaction process.
There is no certainty that any transaction will proceed. Any further announcements will be made in due course, as and when appropriate. In the meantime, the Company will continue to execute its business plan and further implement its successful growth strategy, with no changes to the strategic direction, leadership or financial and operational policies.