Billionaire Reuben brothers bank £600m from Global Switch bond fundraiser
Wednesday 18 December 2013
The billionaire Reuben brothers are set to cash £600 million from the refinancing of data centre operator Global Switch.
David and Simon Reuben’s Aldersgate Investments will receive the juicy dividend following a £400 million bond fundraising at the company, which is being backed by investors in Europe and Australia.
The brothers have an estimated combined wealth of £8.3 billion, according to the Sunday Times Rich List. They initially made their fortune in the aluminium trade, but have since developed a vast property empire in this country, including Millbank Tower and Carlton House.
Global Switch was set up in 1998 and has nine data centres across the world. It has been wholly owned by Aldersgate since 2007.
It has been widely speculated that Global Switch, valued at some £4.5 billion, could go public next year.
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