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Bain Capital offers to take data center provider Chindata private


(Reuters) – Chindata Group said on Wednesday that investor Bain Capital 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)

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