Mubadala purchases minority stake in EQT’s GlobalConnect

Abu Dhabi / WAM

EQT has announced that the EQT Infrastructure III and IV funds (EQT Infrastructure) signed an agreement to sell a minority stake in GlobalConnect to Mubadala Investment Company (Mubadala).
Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data centre services provider to enterprises, public institutions, and consumers in Northern Europe. The company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden, owned by EQT Infrastructure.
In times of increasing data volumes and ever-growing demand for fast and reliable connectivity, GlobalConnect plays an important role in providing essential digital infrastructure solutions to the societies it operates in. Today, GlobalConnect’s infrastructure carries more than 50% of all internet traffic generated in the Nordics across its network of 150,000 km of fiber infrastructure and 35,000 m2 data center space, and it employs around 1,800 people in the region.
By welcoming Mubadala as a minority investor in GlobalConnect, EQT Infrastructure aims to broaden the company’s long-term shareholder base, while drawing on Mubadala’s prior investment experience in data centre and fiber-to-the-home assets in numerous markets.
Khaled Abdulla Al Qubaisi, Chief Executive Officer, Real Estate and Infrastructure Investments at Mubadala, said, “We are pleased to be investing with our long-term partner, EQT, in GlobalConnect. As a responsible investor, we highly prize those deals that enable us to invest in high conviction assets and sectors for value creation and to
deliver a positive impact on communities. Investing in digital infrastructure allows us to achieve both these goals. We look forward to working with GlobalConnect and EQT to capitalise on growth opportunities in data center and fiber-to-the-home assets, and to support Europe’s digital infrastructure development, a vital enabler of digital inclusion and socioeconomic progress.”
Carl Sjölund, Partner within EQT Infrastructure’s Advisory Team, said, “As data usage and internet traffic continue to increase, it is vital that the underlying digital infrastructure keeps up to meet future demand. EQT Infrastructure remains committed to GlobalConnect’s ambition to increase societies’ digital connectivity and we are happy to welcome Mubadala to come along on this journey.”