Maples Group Advises China's Biggest Data Centre on its US$3.16 Billion Take-Private Transaction

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Maples and Calder, the Maples Group's law firm, is pleased to have advised Chindata Group Holdings Limited ("Chindata") in relation to its take-private transaction. The transaction, which completed on 18 December 2023, implied an equity value of approximately US$3.16 billion.   

The take-private transaction was completed as a Cayman Islands statutory merger, under which the existing shareholders of Chindata had their shares cancelled in exchange for merger consideration of US$4.30 per share or US$8.60 per American depositary shares of the Company. As a result of the merger, Chindata has become a privately held company and de-listed from Nasdaq. The buyer group comprises of Bain Capital and several existing and new investors.  

Chindata is China's biggest data-centre provider, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets.

The team based in the firm's Hong Kong office acted as Cayman Islands counsel to Chindata and was led by Corporate Partner, Karen Zhang Pallaras with assistance from Corporate Of Counsel, Vivian Lee.

Gibson, Dunn & Crutcher and Haiwen & Partners acted as US and PRC legal counsel respectively to Chindata, while Kirkland & Ellis and King & Wood Malleson acted as US and PRC legal counsel respectively to the buyer group.