(AOF) – Bain Capital, a global private equity firm, has announced the signing of a definitive agreement with Chindata Group Holdings Ltd (a leading provider of large-scale data center solutions in the Asia-Pacific region) in for the privatization of the company, at a price of 4.30 dollars per ordinary share or 8.60 dollars per ADS (American depositary share). Bain Capital, along with a number of existing and new investors, will acquire all of the company’s outstanding shares.
The American depositary share (ADS) is a share of a non-US company held by a US depositary bank and available for purchase by US investors.
The purchase price represents a premium of 42.6% to the closing price on the last trading day preceding the initial indication of interest by Bain Capital on June 6 and a premium of 48.7% to the volume-weighted average over the last 30 trading days preceding the initial indication of interest.
Chindata Group was born from the merger of two data center platforms owned by Bain Capital: ChinData, a China-based data center platform, and Bridge Data Centres, a data center platform focused on Asian emerging markets.
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