Chindata Group Announces Receipt of Preliminary Non-Binding "Going Private" Proposal For $8/ADS In Cash

Author: Charles Gross | June 07, 2023 06:13am

Chindata Group Holdings Limited ("Chindata Group" or the "Company") (NASDAQ:CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced its board of directors (the "Board") has received a preliminary non-binding proposal letter, dated June 6, 2023 from BCPE Bridge Cayman, L.P. and BCPE Stack Holdings, L.P. (collectively, the "Bain Shareholders"), proposing to acquire all of the outstanding ordinary shares of the Company, including Class A ordinary shares represented by American depositary shares (the "ADSs", each representing two Class A ordinary shares) not already owned by the Bain Shareholders, for US$4.0 in cash per Class A or Class B ordinary share, or US$8.0 in cash per ADS (the "Transaction").

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