June 7 (Reuters) – Chindata Group stated on Wednesday that investor Bain Capital (BCSF.N) has provided to take the Chinese language information middle operator non-public in a deal valuing the corporate at $2.93 billion.
Chindata’s shares, which have misplaced greater than a fifth of their worth this yr, rose about 14% to $7.18 in early buying and selling.
Bain Capital’s proposal values every American depositary share of Chindata at $8, representing a premium of greater than 27% to its final closing worth.
The non-public fairness agency already owns a 42.2% stake in Chindata, in accordance with Bain Capital.
Information facilities and cloud companies have seen elevated demand as a result of widespread adoption of AI applied sciences.
Nonetheless, analysts count on enterprise clients to optimize their expenditure on cloud companies.
Chindata’s companies embrace designing and working information facilities in China, India and Southeast Asia.
Reporting by Akash Sriram in Bengaluru; Enhancing by Shounak Dasgupta
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