UAE – Mubasher: Mubadala Investment Company intends to buy a minority stake in Sweden-based firm EQT AB’s fibre network operator GlobalConnect, Bloomberg recently reported.

The potential transaction is reportedly could value the Nordic company’s business at a value between EUR 7 billion, equivalent to $6.9 billion, and EUR 10 billion including debt. The agreement comes in line with Abu Dhabi’s strategy to boost overseas acquisitions amid a hike in commodity prices and a drop in valuations, according to the news portal.

GlobalConnect operates around 100,000 kilometres of fibre and connects over 650,000 homes besides nearly 30,000 corporates. In 2021, the company’s revenues went up by 2.50% to EUR 609 million, while the adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged by 13% to EUR 307 million.

Furthermore, Bloomberg revealed that the UAE-based company plans to purchase Fortress Investment Group from Japan’s SoftBank Group Corp. at a value exceeding $2 billion.

Earlier this month, Mubadala penned agreements with Abu Dhabi National Energy Company (TAQA) to invest in Uzbekistan’s Talimarjan power complex.