Chindata Group Holdings, a leading data center solution provider in the Asia-Pacific region, announced on Thursday that it has received a preliminary nonbinding proposal from China Merchants Capital Holdings (International) to take the company private. However, the company’s largest shareholders, who hold a majority of the voting power, have stated that they do not plan on selling their shares.
Under the proposal, China Merchants Capital Holdings (International) has offered to acquire all outstanding shares of Chindata for $4.60 per ordinary share or $9.20 per American Depositary Share (ADS), in cash. This news has had a positive impact on the company’s stock, which has seen a 4.5% increase in 2023 and closed at $8.33 on Wednesday. In the past year, the stock has experienced a significant rise of over 17%.
BCPE Bridge Cayman and BCPE Stack Holdings, who together own 42.17% of Chindata’s shares and 87.39% of the voting power, have responded to the proposal. They have expressed their intention to retain their shares and not sell them. It should be noted that earlier in June, these two major shareholders had proposed acquiring the remaining portion of the company for $4.00 in cash per share or $8.00 per ADS.
Chindata has set up a special committee to carefully evaluate both proposals and consider its options. As of now, no formal decision has been made regarding how the company will respond to these offers. It is important to note that there is no guarantee that any definitive offer will be made or accepted.
For more information, please contact Chindata Group Holdings.