Chindata Group Receives Non-Binding “Take Private” Proposal from CMC

BEIJING, July 13, 2023 (GLOBE NEWSWIRE) -- 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 that the special committee of its board of directors received a preliminary non-binding proposal letter from China Merchants Capital Holdings (International) Limited (“CMC”), to acquire all of the outstanding shares of the Company for US$4.6 per ordinary share (or US$9.2 per ADS) in cash.

On July 12, 2023, the Company also received a letter from BCPE Bridge Cayman, L.P. and BCPE Stack Holdings, L.P. (collectively, the “Bain Shareholders”) stating that the Bain Shareholders, who collectively own 87.39% of the total voting power of the Company, do not intend to sell any shares beneficially owned by them in the Company to any third party nor pursue any alternative transaction. A copy of the letter is attached hereto as Exhibit A.

The special committee of the Company’s independent directors, which was formed following receipt of a preliminary non-binding proposal letter, dated June 6, 2023, from the Bain Shareholders will continue to consider and evaluate all options for maximizing shareholder value with the assistance of the special committee’s independent financial and legal advisors.

The Company’s directors caution the Company’s shareholders and others considering trading in the Company’s securities that no decisions have been made with respect to the Company’s response to either proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that either proposal or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to these or any other transactions, except as required under applicable law.

About Chindata Group

Chindata Group is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers, network and IT value-added services.