(Reuters) -EQT has launched the sale of its Nordic superfast broadband network and data centre business GlobalConnect, the Financial Times reported on Friday, citing people familiar with the matter.
EQT Initiates Sale of Nordic Digital Infrastructure Business GlobalConnect
EQT's Sale of GlobalConnect
(Reuters) - Swedish private equity firm EQT has launched the sale of its Nordic digital infrastructure business GlobalConnect, at a potential valuation of 8 billion euros ($9.43 billion), the Financial Times reported on Friday citing unidentified sources.
Background on GlobalConnect
EQT bought a majority stake in GlobalConnect in 2017.
Details of the Sale Process
Reuters could not immediately verify the report.
Market Impact and Future Prospects
EQT, GlobalConnect declined to comment to the FT, and the firms did not immediately respond to a Reuters request for comment.
GlobalConnect manages over half of the Nordic region's data traffic through its 244,000 km fiber network. It serves 907,000 private consumers and 30,000 business-to-business clients across Denmark, Norway, Sweden, Germany, and Finland, according to its website.
Goldman Sachs bankers have been tapped to oversee the sale of the business, with EQT opting for a full divestment rather than break it up, the report added.
($1 = 0.8484 euros)
(Reporting by Anusha Shah in Bengaluru; Editing by Nivedita Bhattacharjee and Janane Venkatraman)
