Announced
Completed
Financials
Tags
Friendly
Data Centers and Hosting
data center
China
Cross Border
Acquisition
Public
Single Bidder
Minority
Completed
Synopsis
Shandong Hi-Speed, a capital investment company, completed the acquisition of a 42.1% stake in VNET Group, a carrier- and cloud-neutral internet data center services provider, for $299m. "We are pleased to welcome this strategic investment from SDHG, which stands as a powerful endorsement of VNET's leading competitiveness and unique value proposition in the IDC industry. Their investment will further strengthen our balance sheet and fuel innovation as we will cooperatively explore new opportunities in renewable energies with them going forward. As the digital economy develops and expands, VNET will remain dedicated to offering reliable and scalable IDC services, addressing customers' evolving demands and delivering long-term value to all of our stakeholders," Josh Sheng Chen, VNET Group Board of Directors.
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