British data center operator Global Switch has sold 49% equity interest to Chinese consortium with RMB20.6 billion (nearly 2.9 billion US dollars), the British company announced on Wednesday. Global Switch intends to explore mainland data center market by selling company shares. More collaboration between two partners can be expected.

According to the statement Global Switch released on Thursday, the consortium called Elegant Jubilee has acquired a 49 per cent stake in the company from British owner Aldersgate Investments.

The Chinese consortium was led by Jiangsu Sha Steel Group. The main investors within the Chinese consortium are AVIC Trust, a self-called “joint” trust company with both state-owned shares and foreign capital; and Jiangsu Shagang Group Co., Ltd, a large-scale private-owned steel enterprise, according to the Global Switch statement.

The deal was first exposed by Sunday Times in September this year. Due to concern of secured transaction of a great amount of data, both partners signed the “Precautionary Security Control Agreement” to regulate the entry of shareholders to the data center, while Global Switch continues to comply with regulations promulgated by the National Infrastructure Protection Center of Britain.