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Chopped Dominica
STOCKHOLM – Swedish private equity firm EQT AB said on Friday it had agreed to sell a minority stake in GlobalConnect to Abu Dhabi sovereign wealth fund Mubadala Investment Co.
Headquartered in Sweden, GlobalConnect is a provider of fibre-based data communications and data centre services to Nordic businesses, public institutions and consumers.
EQT has invested in the company since 2017 and will remain the largest owner after the deal closes, the company said.
GlobalConnect’s infrastructure carries more than 50% of all internet traffic generated in Northern Europe through its 150,000km fiber-optic infrastructure and 35,000m² network of data center space, employing approximately 1,800 people in the region.
“By welcoming Mubadala as a minority investor in GlobalConnect, EQT Infrastructure aims to expand the company’s long-term shareholder base, while leveraging Mubadala’s prior investment experience in data center and fiber-to-the-home assets in numerous markets,” said EQT.
The transaction is subject to customary conditions and approvals.
Financial terms were not disclosed.
Write to Dominic Chopping: dominic.chopping@wsj.com
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