EQT Explores Sale of GlobalConnect for Up to €8 Billion

EQT, a Swedish private equity firm, has commenced the sale of its Nordic digital infrastructure business, GlobalConnect. The potential valuation for this divestment could reach €8 billion ($9.43 billion). EQT initially acquired a majority stake in GlobalConnect in 2017. GlobalConnect plays a crucial role in the Nordic digital infrastructure sector, managing over half of the region's data traffic via its expansive 244,000 km fiber network. The company serves 907,000 residential customers and 30,000 business clients across Denmark, Norway, Sweden, Germany, and Finland. Goldman Sachs has been appointed to manage the sale, with EQT reportedly seeking a complete divestment of the company, according to the Financial Times. GlobalConnect has declined to comment on these reports, and EQT has not yet responded to a request for comment. Reuters has indicated that it could not immediately verify the Financial Times report.