Bain Capital offers to take data center provider Chindata private (updated)

Chindata group

07/06/2023 11:37

(Adds deal details in paragraph 3, background in paragraph 4)
       June 7 (Reuters) - Chindata Group  CD.O  said on
Wednesday that investor Bain Capital  BCSF.N  has offered to
take the Chinese data center operator private in a deal valuing
the company at $2.93 billion.
    Chindata's shares, which have lost more than a fifth of
their value this year, rose about 12% in trading before the
bell.
    Bain Capital's proposal values each American depositary
share of Chindata at $8, representing a premium of more than 27%
to its last closing price.
    The private equity firm already owns a 42.2% stake in
Chindata, according to Bain Capital.

 (Reporting by Akash Sriram in Bengaluru; Editing by Shounak
Dasgupta)
 ((Akash.Sriram@thomsonreuters.com; @HoodieOnVeshti on Twitter;
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