Chinese data center operator Chindata Group has received a proposal from investor Bain Capital to go private, valuing the company at $2.93 billion. The offer from Bain Capital, which already holds a 42.2 percent (%) stake in Chindata, values each American depositary share at $8, representing a premium of over 27% to the last closing price. Chindata's services encompass the design and operation of data centers in China, India, and Southeast Asia. The surge in demand for data centers and cloud services, driven by the adoption of artificial intelligence (AI) technologies, has led to increased interest in the sector.
In summary, Chinese data center operator Chindata Group has received a privatization proposal from Bain Capital, valuing the company at $2.93 billion. The offer represents a premium of over 27% to the last closing price of Chindata's shares. With its presence in multiple countries, including China, India, and Southeast Asia, Chindata offers data center design and operation services. The surge in demand for data centers and cloud services due to the adoption of AI technologies has contributed to the company's growth.