Bain Capital Values Chindata at $2.93 Billion For Acquisition

On Wednesday, Chindata Group announced that investor Bain Capital had made an approach to buy the Chinese data centre operator private, valuing the business at $2.93 billion.

In trading before the bell, Chindata's shares, which have lost more than a fifth of their value this year, increased by roughly 16% to $7.29.

According to Bain Capital's proposal, the value of each Chindata American depositary share is $8, which is a premium of more than 27% over the stock's most recent closing price.

According to Bain Capital, the private equity firm already holds a 42.2% ownership in Chindata.

The rapid usage of AI technologies has raised demand for data centres and cloud services.

Analysts anticipate that business clients will minimise their cloud spending.

Chindata's services include designing and operating data centers in China, India and Southeast Asia.

American private investment company Bain Capital has its headquarters in Boston. It specialises in real estate, life sciences, cryptocurrencies, tech opportunities, joint ventures, special situations, and private equity, venture capital, credit, and public equity.

Chindata Group specialises in the full life cycle of facility planning, investment, design, construction, and operation of ecosystem infrastructure in the IT industry. It is a leading provider of carrier-neutral hyperscale data centre solutions in Asia-Pacific emerging markets and a pioneer in building next-generation hyperscale data centres in China, India, and Southeast Asia. Business solutions from Chindata Group are offered to clients in significant Asia-Pacific emerging market nations and regions, including asset-intensive ecosystem chain services including industrial bases, data centres, and network services.