Shagang Group completed a $2.2bn acquisition of 24% stake in Global Switch.

Shagang Group, the privately owned steelmaker in China, completed a $2.2bn acquisition of 24% stake in Global Switch, a British data center provider. “We are delighted that the Shagang Group, one of China’s leading private companies, with a track record for investment acumen, manufacturing and service excellence, has acquired a further 24.01% stake in Global Switch and we welcome the new Board director representatives. This further investment is a continued testament to the quality of the company, strong track record of financial performance and super prime locations," John Corcoran, Global Switch CEO.