ACS Data Center Venture Said to Draw Interest From Apollo, GIP

Spanish engineering and construction company ACS SA has started preliminary work on the sale of a stake in a new data center venture, according to people familiar with the matter.

Investment firms including Apollo Global Management Inc. and Global Infrastructure Partners have shown early interest, according to the people, who asked not to be named as discussions are private. Any deal is likely still months away, and the valuation will depend on which assets are included in the venture, according to one of the people.

ACS is seeking to raise €1 billion ($1.1 billion) or more with the stake sale, ...