GUERNSEY – Global Interconnection Group Limited (GIG) said on Thursday it has received expressions of interest from third-party investors, including a formal proposal to acquire the entire company, as well as other proposals for substantial investments.
The company, which owns subsea cable and energy interconnection assets, stated it has entered into a term sheet with one investor for a potential Offer to buy the Group and invest in its infrastructure development portfolio. The Board cautioned that there is no certainty a firm offer will be made, nor on the final terms or timing.
Alongside the potential takeover, GIG has received non-binding financing proposals from sovereign-backed investors. These are aimed at funding a high-voltage direct current (HVDC) cable order, providing “Cable as a Service” to grid operators, and supporting the Group’s interconnector development assets.
The Board views the unsolicited interest as a validation of its long-term strategy. In light of these new approaches, GIG has decided to pause decisions related to a previously announced spin-out, referred to as “LINK,” to evaluate the new proposals concurrently.
The company emphasized that all proposals are preliminary and subject to due diligence, legal documentation, internal approvals, and regulatory reviews. A further announcement regarding the outcome of a Right of First Refusal process for one of its green bonds is expected shortly.