Netherlands-based Interxion — pronounced “interaction” — is hunting for advisers to list the business on Nasdaq. It recently conducted a “beauty parade” of investment banks believed to have included JP Morgan, Jefferies and UBS.
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Interxion recorded underlying earnings in the first half of the year up 34% to £26m on sales 29% higher at £74m. It is controlled by Baker Capital, an American private-equity group, which installed one of its partners, David Ruberg, as chief executive in 2007.
Backers, who have invested more than £266m in the company, also include Goldman Sachs, BNP Paribas and Morgan Stanley. Fund managers are drawn to the sector’s reliable earnings stream.
Telecity, which has a giant internet exchange in London’s Docklands, has seen its shares rise 72% since it listed on the London market two years ago. It has a market value of £750m and has been named as a possible acquirer of Interxion.
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