Jiangsu Shagang Group Company Limited’s £800 Million Acquisition Financing

Ashurst advised Jiangsu Shagang Group Company Limited in the up to £800 million syndicated term loan facility for the acquisition of 24.01% of Global Switch Holdings Limited.

Upon completion of the acquisition, Shagang will become the ultimate controlling shareholder of Global Switch.

Global Switch is a leading data centre operator in Europe and Asia.

Shagang is China’s largest privately owned steelmaker and one of the Fortune Global 500 of the world’s largest companies. It possesses total assets of RMB229.8 billion and it produced 31.8 million tons of iron, 40.7 million tons of steel and 39.5 million tons of rolled products in 2018.

The Ashurst team was led by Daniel Lau (Picture), assisted by partner Frank Bi, associates Mavis Lau and Roger Dong, and trainee solicitor Donald Mak.

Involved fees earner: Frank Bi – Ashurst; Mavis Lau – Ashurst; Daniel Lau – Ashurst;

Law Firms: Ashurst;

Clients: Jiangsu Shagang Group Co Ltd;

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Author: Michael Patrini